Vietnam inks crude oil supply deals with SOCAR, Glencore

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, officials from the refinery said on Friday.

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, they 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.