PVOIL enters SAF market while Rosneft begins Vostok Oil shipments

In Vietnam, PVOIL has entered a strategic partnership with FatHopes Energy to establish a network for collecting used cooking oil. This initiative aims to provide raw materials for Sustainable Aviation Fuel (SAF). PVOIL plans to leverage its existing infrastructure, including over 1,000 gas stations, warehouses, and logistics systems, to collect oil from restaurants, industrial kitchens, and households. The program will initially launch in Ho Chi Minh City before expanding nationwide. This move targets the growing SAF market, which is projected to see significant demand increases in the ASEAN region as aviation decarbonization efforts intensify.

Meanwhile, in Russia, Rosneft has commenced the first crude oil shipments from its Vostok Oil project in Eastern Siberia. Despite Western sanctions and the withdrawal of international partners like Trafigura and Vitol, the company is proceeding with the massive development. The project involves drilling approximately 2,000 wells across a cluster of fields with an estimated 7 billion tons of low-sulfur crude oil reserves. Once fully operational, Vostok Oil is expected to reach a production capacity of 2 million barrels per day, contributing significantly to Russia's energy output using domestically developed drilling technologies.