Vietnam receives first cargo of Congo Djeno crude for Nghi Son refinery
Vietnam's state energy firm Petrovietnam has received its first cargo of Djeno crude oil from Republic of the Congo for the country's largest oil refinery, the company said.
The cargo of 950,000 barrels was unloaded at Nghi Son Refinery and Petrochemical LLC last week, Petrovietnam said in a statement over the weekend.
The 200,000-bpd refinery had processed crude oil sourced almost entirely from Kuwait, but shipments have been disrupted due to the Iran war, forcing Vietnam to seek alternative suppliers.
"Diversifying crude oil input sources is practically significant in enhancing raw material self-sufficiency, contributing to supporting stable refinery operations, and ensuring the supply of petroleum products to the domestic market," Petrovietnam said.
Nghi Son said earlier it is considering quarterly tenders and spot cargo procurement to secure enough crude oil for its operations.
A vessel carrying Iraqi crude oil is set to arrive at the refinery on May 30, after it was held by the U.S. Navy for five days in the Gulf of Oman, LSEG shipping data showed.
Japan's Idemitsu Kosan Co and Kuwait Petroleum both hold 35.1% stakes in the refinery, with 25.1% held by Vietnam's state oil firm Petrovietnam and 4.7% belonging to Mitsui Chemicals Inc.
Petrovietnam said in the statement that it will continue to import crude oil for local refineries.
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