Petrovietnam Refining and Petrochemical Corporation is widening the crude oil supply network for its Dung Quat Refinery after signing a framework agreement with ExxonMobil Asia Pacific and expanding the range of crude grades the plant can process.
MONTREAL (Oil Monster): Petrovietnam Refining and Petrochemical Corporation, or BSR, is expanding the international crude oil supply network serving its Dung Quat Refinery as the company seeks greater flexibility in feedstock procurement.
The company recently exchanged a framework agreement with ExxonMobil Asia Pacific, adding another potential supplier to a network that BSR has been broadening throughout 2026.
The framework agreement was exchanged in New York on September 23 during a roundtable involving Vietnamese leaders and executives from major U.S. companies.
BSR said the arrangement with ExxonMobil Asia Pacific opens another avenue for crude oil procurement and supports its strategy of diversifying feedstock sources.
Since the beginning of 2026, the company has been evaluating crude supplies from several international markets, including the United States.
BSR has also signed crude oil supply agreements with Chevron as part of its effort to maintain reliable feedstock availability for Dung Quat.
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BSR has also been expanding the refinery's technical ability to handle a wider range of feedstocks.
Since the beginning of 2026, Dung Quat has successfully tested three additional crude grades, bringing the total number it can process to 40.
That portfolio includes 12 domestic crude grades and 28 imported grades.
The wider crude basket gives BSR additional flexibility to select feedstocks based on availability, market conditions and refinery operating requirements.
During 2026, BSR demonstrated the ability to process Nigeria's Erha crude at a maximum blending ratio of approximately 45% by volume.
The company has also developed the ability to process Sao Vang-Dai Nguyet condensate at a maximum blending ratio of about 12% by volume.
The additional processing capabilities broaden the range of domestic and international feedstocks available to the refinery.
Dung Quat received approximately 8.28 million tonnes of crude oil in 2025 and processed roughly 8.22 million tonnes during the year.
Imported crude represented approximately 31% of the refinery's feedstock, with overseas supplies sourced from regions including West Africa, the Mediterranean and Southeast Asia.
For 2026, BSR is placing greater emphasis on balancing domestic crude supply while continuing to use international sources where needed.
The company is targeting an imported crude share of approximately 15% for the year as it seeks to maintain supply security amid changing geopolitical and market conditions.
The ExxonMobil framework agreement therefore expands BSR's sourcing options even as the company aims to rely more heavily on domestic crude during 2026.
Expanding both the number of suppliers and the range of crude grades Dung Quat can process gives BSR more flexibility in managing refinery feedstock.
The ExxonMobil framework, existing Chevron supply arrangements and ongoing testing of additional crude grades form part of the company's broader effort to strengthen feedstock security and reduce dependence on a limited group of traditional suppliers.
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