Petrovietnam Refining and Petrochemical Corporation (BSR) has signed a framework agreement to buy crude oil from ExxonMobil Asia Pacific, extending a supply-diversification drive that has already lifted the number of crude grades Dung Quat Refinery can process to 40.

The signing took place in New York City at a roundtable attended by General Secretary and State President of Vietnam To Lam together with senior Party and Government leaders. BSR framed the deal as a feedstock-security measure: the company stated the agreement "is intended to bolster operational resilience and help the company respond to market volatility."

Why does Dung Quat need more suppliers?

The 40-grade slate now consists of 12 domestic and 28 imported varieties, after BSR tested three additional crude types since the start of 2026. During the same period, the refiner developed the capability to process Nigeria's Erha crude at a maximum blending ratio of approximately 45% by volume, plus Sao Vang-Dai Nguyet condensate at up to around 12% by volume.

That flexibility sits at the centre of the refinery's competitiveness, according to BSR. The wider the grade slate, the more the operator can shop across regions — the US included — and reduce dependence on traditional suppliers while building resilience against volatile global energy markets.

The ExxonMobil framework is the latest in a series. BSR has separately signed crude oil supply agreements with Chevron to help secure stable feedstock for Dung Quat.

How much crude does the refinery import?

In 2025, Dung Quat imported roughly 8.28 million tonnes of crude oil, with imported grades representing around 31% of total feedstock.

For 2026, BSR has shifted its approach: the company is prioritising a greater balance of domestic crude while cutting the imported share to approximately 15%, drawn from West Africa, the Mediterranean and South East Asia.

The refinery sits within the Dung Quat Economic Zone, spanning the communes of Binh Thuan and Binh Tri in Binh Son district, Quang Ngai province. The facility occupies approximately 956 hectares in total — roughly 485 ha of land and 471 ha of sea surface — and includes a 140 ha allocation reserved for future expansion.

What comes next?

BSR said the ExxonMobil arrangement aligns with its strategic goals of strengthening feedstock security and broadening its international supplier network. The watch items are concrete: whether volumes firm up under the framework, how the 15% import share holds as domestic supply fluctuates, and whether Dung Quat's reserve land converts into a sanctioned expansion.