Vietnam's BSR signs a crude oil supply framework agreement with ExxonMobil Asia Pacific as it expands feedstock sources and strengthens operational flexibility at the Dung Quat refinery.
Petro vietnam Refining and Petrochemical Corporation (BSR) has signed a framework agreement with ExxonMobil Asia Pacific for crude oil supplies to its Dung Quat refinery, as the Vietnamese refiner seeks to diversify feedstock sources and strengthen supply flexibility.
The agreement was exchanged in New York, during a high-level meeting between Vietnamese officials and executives from major U.S. companies. The signing was witnessed by Vietnam's General Secretary and State President To Lam.
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BSR operates the 130,000-barrel-per-day Dung Quat refinery and has been expanding the range of crude oils it can process. According to Reuters, the refinery can now handle 40 different crude types, including 28 imported varieties. Imported crude accounted for more than 30% of its feedstock last year, with supplies mainly sourced from West Africa, the Mediterranean and Southeast Asia.
The agreement with ExxonMobil adds another potential source of crude, including supplies from the United States. BSR has been working since the beginning of 2026 to identify and expand crude sources from multiple regions. The company has also signed crude supply agreements with Chevron as part of efforts to maintain stable feedstock availability.
BSR said expanding its crude supply network is intended to improve operational flexibility and help the refinery respond to changes in global energy markets. The company has tested three additional crude types since the start of 2026, bringing the total number of grades it can process to 40. It has also developed the ability to process Nigerian Erha crude at a blend ratio of up to about 45% by volume and Sao Vang-Dai Hung condensate at up to around 12%.
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In 2025, Dung Quat imported about 8.28 million tonnes of crude, with imported oil accounting for roughly 31% of its total crude intake. For 2026, BSR is prioritising domestic crude while continuing to maintain imports from several regions to support supply security.
The ExxonMobil agreement therefore expands BSR's international supplier network while giving Dung Quat additional options for sourcing and processing crude amid changing global oil-market conditions.