Petrovietnam Refining exchanges crude framework agreement with ExxonMobil Asia Pacific for Dung Quat Refinery

On September 23, Petrovietnam Refining and Petrochemical Corporation exchanged a framework agreement for crude oil purchases with ExxonMobil Asia Pacific. The framework expands BSR's network of international crude oil suppliers and creates additional feedstock options for Dung Quat Refinery. The signing was witnessed by Party General Secretary and State President To Lam, together with senior leaders of the Party, the state and the government of Vietnam.

Vietnam National Industry-Energy Group has signed separate agreements with Chevron Corp and ExxonMobil Corp that could enable crude deliveries to BSR's Dung Quat Refinery in the central province of Quang Ngai. BSR has also signed crude oil supply agreements with Chevron to support stable feedstock supplies for the refinery.

BSR said the ExxonMobil Asia Pacific agreement supports its strategy to diversify crude sources, improve operational flexibility and strengthen resilience to global energy-market volatility. The company said expanding its crude oil basket provides greater flexibility to select feedstock based on market conditions while reducing reliance on traditional sources.

Since the beginning of 2026, BSR has expanded crude supply sources from multiple regions, including the United States. It has successfully tested three additional crude oil grades since the start of the year. That brings the total number of crude types the refinery can process to 40, including 12 domestic grades and 28 imported grades.

In 2026, BSR mastered processing technology for Nigeria's Erha crude at a maximum blending ratio of approximately 45% by volume. It also mastered processing of Sao Vang - Dai Nguyet condensate at a blending ratio of up to around 12% by volume.

Imported crude accounted for around 31% of Dung Quat Refinery's total feedstock in 2025. In 2026, BSR is maintaining imported crude at approximately 15%, sourced from West Africa, the Mediterranean and Southeast Asia. BSR prioritized balancing domestic crude sources in 2026 to safeguard supply security and respond to geopolitical uncertainties.