BSR signs crude oil framework agreement with ExxonMobil

Binh Son Refining and Petrochemical (BSR) has signed a framework agreement to purchase crude oil from ExxonMobil Asia-Pacific. The agreement was finalized in New York on September 23, 2026, during a high-level roundtable discussion with major U.S. business leaders.

This move is part of BSR’s strategy to diversify its raw material sources for the Dung Quat Refinery and reduce reliance on traditional suppliers. By expanding its international supply network, BSR aims to increase operational flexibility and better manage risks associated with geopolitical conflicts, maritime security, and fluctuating logistics costs. BSR has also previously signed crude oil supply agreements with Chevron.

The Dung Quat Refinery has demonstrated increasing technological capacity to process a wide variety of crude types. As of 2026, the facility can process 40 different types of crude oil, including 12 domestic varieties and 28 imported types. In 2025, imported crude accounted for approximately 31% of the refinery's 8.28 million tons of total crude intake. For 2026, BSR plans to prioritize domestic sources while maintaining an import proportion of approximately 15% from regions including West Africa, the Mediterranean, and Southeast Asia.