Vietnam inks crude oil supply deals with SOCAR, Glencore

16:16 | 02/01/2018 Energy

Glencore Singapore will supply 2 million barrels of crude per month to Dung Quat between 2017 and 2021.

At the signing ceremony - Photo: baocongthuong

On December 8th, 2017 in Hanoi, Vietnam’s Binh Son Refining and Petrochemical Co (BSR) and state oil marketer PV Oil have signed initial agreements with two western trading companies for annual crude supplies to Dung Quat Oil Refinery.

The move was part of BSR's sustainable development strategy to ensure a stable crude oil supplies and related products.

SOCAR Trading will provide 3 million barrels a month of Azeri Light crude and 2 million barrels a month of other types of crude to Binh Song’s Dung Quat refinery between 2018 and 2021, officials from the refinery said.

Glencore Singapore will supply 2 million barrels of crude per month to Dung Quat between 2017 and 2021, they said, adding that the supply could increase to 3 million barrels per month in 2021-2025.

Theo Vnexpress/Reuters