The cargoes comprised five crude grades sourced from West Africa and the Middle East, according to the company.
The latest shipment arrived at Nghi Son on Oct. 28 aboard the very large crude carrier (VLCC) FLORA, carrying approximately two million barrels of Qatar Marine crude.
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The VLCC FLORA arrives at Nghi Son refinery on Oct. 28, carrying approximately two million barrels of Qatar Marine crude. Photo courtesy of PVNDB |
It was PVNDB’s 10th delivery to NSRP since May and the first time the refinery had received Qatar Marine crude, expanding its options beyond its traditional reliance on Kuwait crude.
The deliveries came as heightened tensions in the Gulf in March raised concerns about potential disruptions to international oil shipments, putting pressure on the refinery’s feedstock procurement.
Petrovietnam subsequently sought alternative supply sources, with PVNDB taking a larger role in sourcing crude and arranging international transactions.
The Qatar Marine shipment followed the delivery of around 500,000 barrels of Oman crude just days earlier. PVNDB said both cargoes were arranged to meet urgent feedstock requirements.
The company worked with international trading partners to source suitable cargoes, negotiate terms and coordinate transportation. It said the Oman shipment was arranged within about three days of the request, while the Qatar Marine cargo took less than a week.
The transactions required coordination among international counterparties, NSRP and relevant authorities to meet delivery requirements.
The introduction of Qatar Marine crude gives the refinery another potential feedstock option and greater flexibility in responding to market changes.
PVNDB said the 10 deliveries had strengthened its experience in international crude sourcing, commercial negotiations, logistics and transaction execution.
The company aims to expand its international oil trading activities within Petrovietnam, connecting overseas suppliers with NSRP’s requirements to support refinery operations and reduce exposure to supply disruptions.
It said the work also contributes to Petrovietnam’s efforts to maintain domestic refining operations and strengthen Vietnam’s energy security.