PetroVietnam has announced that the Nghi Son Refinery and Petrochemical Complex, the country's largest crude processing facility, received its first shipment of 950,000 barrels of Djeno crude from the Republic of Congo last week.
With a daily processing capacity of 200,000 barrels, the Nghi Son plant had previously relied almost entirely on crude oil imports from Kuwait. Recent regional tensions, including conflicts involving Iran, have disrupted these traditional supply channels. In a statement addressing this situation, PetroVietnam emphasized that diversifying crude oil import sources is crucial for enhancing the country's raw material self-sufficiency. This move is significant not only for maintaining the stable operation of the refinery but also for effectively ensuring the supply of petroleum products to the domestic market.
To secure the necessary crude oil reserves for its operations, the Nghi Son refinery had earlier indicated it was considering a procurement model combining quarterly tenders with spot purchases. PetroVietnam has also reaffirmed its commitment to continuously expanding the scale of crude oil imports for domestic refineries. Furthermore, the latest shipping data shows that a tanker carrying Iraqi crude oil is expected to arrive at the Nghi Son refinery on May 30.
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