Chevron agrees to potential oil and gas supply deal with Vietnam

Chevron has signed an agreement with Vietnam National Industry-Energy Group, known as PVN, for the potential supply of oil and gas. PVN announced the pact on Monday during a government visit to the United States.

Under the agreement, Chevron could deliver crude oil to the Dung Quat Refinery, operated by Petrovietnam Refining and Petrochemical Corp in the central province of Quang Ngai. PVN stated that the partnership could also secure liquefied natural gas and liquefied petroleum gas for Vietnam as the country diversifies its energy supplies.

The Dung Quat Refinery expects to source about 15 percent of its throughput from outside Vietnam this year, including shipments from West Africa, the Mediterranean, and Southeast Asia. Last year, the facility imported approximately 8.28 million metric tons of crude, representing roughly 31 percent of its total input.

PVN noted that the partnership with Chevron could open broader opportunities in import infrastructure, energy storage, commercial solutions, technology, and emissions reduction.