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Chevron and ExxonMobil Secure Crude Supply Deals with Vietnam

Guavy AI Editorial Team Published October 1, 2026

Instruments

CVX

Chevron and ExxonMobil have signed agreements to supply crude oil to Vietnam's Dung Quat Refinery. Petrovietnam Refining and Petrochemical Corporation (BSR) signed a framework agreement with Chevron covering potential cooperation in crude oil, LNG, LPG, and refinery feedstock.

The agreement between BSR and ExxonMobil Asia Pacific is specifically focused on crude oil supply for the Dung Quat Refinery. This will provide BSR with an additional international source of feedstock, helping to secure a minimum crude oil supply of 2 million barrels per year for the refinery.

BSR has been diversifying its crude supply network in recent years and now expects imported crude to represent around 15% of total feedstock by 2026. The addition of ExxonMobil as a potential supply partner will further increase flexibility in crude procurement for Dung Quat Refinery.

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