Petrovietnam Refining and Petrochemical Corporation (BSR) has entered into a framework agreement to purchase crude oil from ExxonMobil Asia Pacific, an affiliate of ExxonMobil.
The agreement is part of BSR’s efforts to enhance feedstock security for the Dung Quat Refinery in Vietnam by diversifying its crude oil supply.
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The signing took place in New York City during a high-level roundtable attended by General Secretary and State President of Vietnam To Lam, as well as senior leaders from the Party and Government of Vietnam.
BSR has been accelerating efforts to diversify crude oil procurement across multiple regions including the US as it seeks to reduce dependence on traditional suppliers and build resilience against volatile global energy markets.
The corporation has separately signed crude oil supply agreements with Chevron to help secure stable feedstock for Dung Quat.
A central element of the refinery’s competitiveness is its expanding capacity to handle a broad range of crude grades.
Since the start of 2026, BSR has tested three additional crude types, raising the total number of processable grades to 40, consisting of 12 domestic and 28 imported varieties.
During the same period, the corporation developed the capability to process Nigeria’s Erha crude at a maximum blending ratio of approximately 45% by volume and Sao Vang-Dai Nguyet condensate at up to around 12% by volume.
In 2025, Dung Quat imported roughly 8.28 million tonnes of crude oil, with imported grades representing around 31% of total feedstock.
The refinery is situated within the Dung Quat Economic Zone, spanning the communes of Binh Thuan and Binh Tri in Binh Son district, Quang Ngai province.
The facility occupies a total area of approximately 956 hectares (ha), which includes a 140ha allocation reserved for future expansion. This overall footprint is divided between roughly 485ha of land and 471ha of sea surface.
For 2026, BSR has shifted its approach, prioritising a greater balance of domestic crude while reducing the imported share to approximately 15%, drawn from West Africa, the Mediterranean and South East Asia.
BSR stated that its agreement with ExxonMobil Asia Pacific is intended to bolster operational resilience and help the company respond to market volatility. The arrangement is aligned with BSR’s strategic goals of strengthening feedstock security and broadening its international supplier network.
