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SOCAR has signed an oil export contract with Vietnam

08.12.2017,17:23


December 8, Fineko/abc.az. Socar Trading (Azerbaijan) and Binh Son Refining & Petrochemical Co. (BSR; Vietnam) have signed a contract.

Under the contract, the Azerbaijani company will deliver annually 3 million barrels of Azeri Light and 2 million barrels of other crude oil grades to Vietnamese refinery Dung Quat during 2018-2021.

BSR’s head Nguyen Jiang informed that the contract was very important to his company.

Over the first 11 months of 2017 Vietnam’s production slid by 10.6% to 12.48 million tons a year (273,800 bpd), although volume of production for this year was planned at the level of 14.2 million tons.

According to Thomson Reuters Eikon, Socar exported 4 million tons of crude to Vietnam for Jan-Nov of the year.