Vitol signs crude oil supply deal with Petrovietnam

Vitol Asia signed a deal with Petrovietnam to supply one crude oil cargo to the Nghi Son refinery. This first transaction for the facility follows a memorandum of understanding signed between the two entities in Singapore. The agreement provides the refinery with alternative supply sources after regional disruptions closed the Strait of Hormuz.

Vitol Asia signed the crude oil sale and purchase agreement with Nghi Son Petroleum Products Distribution Branch, an authorized unit of Petrovietnam. The transaction marks the first crude oil supply deal between the trader and the state energy firm for the Nghi Son Refinery and Petrochemical Limited Liability Company.