Chevron & ExxonMobil Ink Deals with Petrovietnam Amid Crude Supply Diversification Efforts
Chevron and ExxonMobil have signed separate agreements with Petrovietnam to supply crude oil to the Dung Quat Refinery in Vietnam. The deals come as Petrovietnam seeks to diversify its crude sources and improve flexibility amid changing global energy market conditions.
The framework agreement between Chevron and Petrovietnam covers potential cooperation in crude oil, LNG, LPG, and refinery feedstock. This could open opportunities for Chevron to supply energy products to Vietnam while expanding its relationship with Petrovietnam.
Separately, Petrovietnam Refining and Petrochemical Corporation (BSR) signed a crude oil supply framework agreement with ExxonMobil Asia Pacific for the Dung Quat Refinery. This agreement is expected to secure a minimum of 2 million barrels of crude per year for the refinery.