Chevron and ExxonMobil Sign Potential Crude Supply Deals With Vietnam

Zacks Investment Research··VNUSNG·Read original
2▲2 ▼0Impact / 5
Summary · why it matters

Chevron and ExxonMobil have each signed separate agreements with Petrovietnam and its refining subsidiary covering potential crude and energy supply to Vietnam. Petrovietnam and Chevron signed a framework cooperation agreement covering potential cooperation in crude oil, liquefied natural gas, liquefied petroleum gas and refinery feedstock, and BSR separately stated it had signed crude oil supply agreements with Chevron. Separately, Petrovietnam Refining and Petrochemical Corporation, known as BSR, signed a crude oil supply framework agreement with ExxonMobil Asia Pacific for the Dung Quat Refinery in central Vietnam, expected to help secure a minimum crude oil supply of 2 million barrels per year for the refinery. In 2025, Dung Quat Refinery imported approximately 8.28 million metric tons of crude oil, with imported crude accounting for about 31% of total feedstock, and for 2026 BSR expects imported crude to represent approximately 15% of its feedstock. Since the beginning of 2026, the refinery has tested three additional crude types, bringing its total processing capability to 40 grades, including 12 domestic and 28 imported grades, and it can process Nigeria's Erha crude at a maximum blending ratio of approximately 45% by volume. The financial value and detailed delivery schedule of the ExxonMobil agreement have not been disclosed, and the agreements do not yet provide enough information to assess their direct financial impact on Chevron or ExxonMobil.

Impact on assets 4

Energy▲ · 3 stocks
Chevron Corp
CVX
▲ PositiveDemandrelevance

Chevron signed a framework cooperation agreement with Petrovietnam covering potential crude oil, LNG, LPG and refinery feedstock supply.

Energy Transition & Power Demand▲ · 1 stocks
Exxon Mobil Corp
XOM
▲ PositiveDemandrelevance

ExxonMobil Asia Pacific signed a crude oil supply framework agreement with BSR for the Dung Quat Refinery, securing a minimum 2 million barrels per year.

Off-coverage companies 2

Binh Son Refining and Petrochemical (BSR)Private▲ Positive
Supplyrelevance

BSR signed crude supply agreements with Chevron and ExxonMobil to secure feedstock for the Dung Quat Refinery.

PetroVietnamPrivate± Mixed
relevance

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