Vietnamese President to Announce Energy Deals with US Firms in New York

Vietnamese President Tô Lâm is planning a trip to New York for a business conference where several commercial announcements between Vietnamese and American companies are expected.

The energy component of these agreements reportedly involves Petrovietnam, BSR, Chevron, Murphy Oil, and ExxonMobil. The agreements would cover various aspects such as supply arrangements, exploration projects, technology exchanges, or cooperation frameworks.

Petrovietnam has a prior relationship with Chevron, which signed a memorandum of understanding for energy cooperation in 2022. This framework includes crude oil supply and the development of renewable-origin fuels.

Murphy Oil holds exploration and development activities in Vietnam, including progress on the Lạc Đà Vàng project. ExxonMobil has worked with Petrovietnam on the Cá Voi Xanh gas project but has faced delays in its commercial milestones for development.