What is the significance of Vitol Asia's new crude oil supply deal with Petrovietnam for the Nghi Son Refinery?

This deal marks the first crude oil supply transaction between Petrovietnam and Vitol specifically for the Nghi Son Refinery and Petrochemical LLC, and represents a practical step in implementing the memorandum of understanding previously signed between the two parties in Singapore.

Why is Vitol’s involvement notable in the context of recent supply disruptions affecting Asian refiners?

Vitol’s involvement is notable because commodity traders like Vitol have global networks to source crude oil supply — particularly valuable for Asian refiners that have lost access to Middle Eastern supply following the closure of the Strait of Hormuz.

Vitol Asia signs crude supply deal with Petrovietnam for Nghi Son refinery

Jun 3, 2026

Vitol Asia signed a crude oil supply agreement with Petrovietnam for the Nghi Son Refinery, marking their first transaction for the facility. This deal implements a prior memorandum of understanding to secure energy resources for Asian markets.

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Vitol Asia signs crude supply deal with Petrovietnam for Nghi Son refinery

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