Petrovietnam Deepens Energy Cooperation with Chevron and ExxonMobil

Petrovietnam has strengthened its energy projects and deepened Vietnam-US business cooperation during General Secretary and President To Lam's visit to the United States. The visit took place from September 20-23, and Petrovietnam participated in various activities to meet with businesses, financial institutions, and energy partners.

One of the key agreements signed was a framework cooperation agreement between Petrovietnam and Chevron, which creates a formal cooperation framework for an integrated energy corporation. This will help Petrovietnam diversify its sources of crude oil, LNG, LPG, and feedstock for refineries, increase flexibility and responsiveness to fluctuations in supply, and open up opportunities for cooperation in import infrastructure, energy storage, financial and commercial solutions, technology, and emission reduction.

Petrovietnam also signed a crude oil supply agreement with ExxonMobil Asia Pacific, which will ensure a minimum crude oil supply of 2 million barrels per year for the Dung Quat Refinery. The company aims to build long-term cooperative relationships with US financial institutions and investment funds.