Crude oil supply deal signed for Dung Quat refinery
Bach Ho has supplied 53.4 million barrels of crude oil to Dung Quat refinery in the period from July 1, 2021 to June 30, 2024.
The Vietnam-Russia Joint Venture (Vietsovpetro), the PetroVietnam Oil Corporation (PVOIL) and the Binh Son Refining and Petrochemical Co Ltd (BSR) have signed a principle contract to supply crude oil from Bach Ho field for the Dung Quat oil refinery in the 2024-2027. (Photo: pvoil.com.vn)
Hanoi (VNA) ♏– The Vietnam-Russia Joint Venture (Vietsovpetro), the PetroVietnam Oil Corporation (PVOIL) and the Binh Son Refining and Petrochemical Co Ltd (BSR) have signed a principle contract to supply crude oil from Bach Ho field for the Dung Quat oil refinery in the 2024-2027 period.
BSR is currently processing 11 types of domestic crude oil and 23 types of imported crude oil.
As of January 16 this year, BSR's processing volume topped 100 million tonnes, including 85.58 million tonnes of domestic crude oil, over 15 million tonnes of imported crude oil and 0.255 million tonnes of other materials.
Previously, the company had signed many long-term crude oil purchasing contracts with domestic oil owners and partners, including long-term contracts for 2021 - 2024 and 2024 – 2026 period to buy all crude oil from Bach Ho, Rong, Dai Hung and Te Giac Trang oil fields.
Bach Ho has supplied 53.4 million barrels of crude oil to Dung Quat refinery in the period from July 1, 2021 to June 30, 2024, accounting for 30% of the total amount of crude processed at the facility.
Bui Ngoc Duong, BSR General Director said that the company has implemented a long-term strategy to purchase crude oil in order to stay proactive in production and business.
The signing of the long-term supply contract is very important for BSR because Bach Ho crude oil output accounts for the largest proportion of the input material of the facility, he continued./.
The Dung Quat Oil Refinery Plant in the central province of Quang Ngai, operated by the Binh Son Refining and Petrochemical Company (BSR), processed more than 100 million tonnes of crude oil and materials after 15 years of operations.
The Dung Quat oil refinery, tasked with helping guarantee national energy security and boost economic growth in the central region, has made substantial contributions to the development of local transport, seaport, and logistics infrastructure.
Since the Dung Quat Oil refinery – the first in Vietnam - was put into operation in 2009, it has served as a booster for the Dung Quat Economic Zone and the central province of Quang Ngai as a whole to lure both domestic and foreign investments.
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