The workshop was attended by BSR’s President & CEO Nguyen Viet Thang, PVOIL Deputy General Directors Hoang Dinh Tung and Le Trung Hung, as well as leaders and specialists from both companies.

In the opening remarks, BSR’s President & CEO Nguyen Viet Thang emphasized that BSR and PVOIL are pioneers in Petrovietnam’s oil and gas value chain collaboration. Their critical roles span from crude oil supply, refining, and blending to the distribution of petrochemical products. The partnership between the two companies has significantly improved economic efficiency, boosted revenues, reduced intermediary costs, and enhanced competitiveness for both individual businesses and the entire industry.

Amid the government’s push for a green growth strategy, targeting net-zero emissions by 2050 as committed at COP26, Petrovietnam has taken the lead in promoting the production and consumption of renewable energy products, particularly biofuels, which have become an inevitable trend. As a key player in biofuel production, BSR has proactively cooperated with PVOIL to develop a closed supply chain, from ethanol components to blended products such as E3, E5, and E10. Notably, the plan to restart the Dung Quat Biofuel Plant has been a highlight.

Currently, Dung Quat Refinery, operated by BSR, is blending E5 RON 92 biofuel using RON 92 base gasoline combined with E100 ethanol at PVOIL’s blending tank system. Thanks to synchronized infrastructure and modern technology, the refinery has the capacity to flexibly increase blending output to meet market demand, especially as the government plans to expand E10 gasoline usage starting January 1, 2026.

On PVOIL's side, with an extensive distribution network of nearly 700 petrol stations and thousands of agents, the company is fully equipped in terms of infrastructure and logistics to receive, store, and distribute biofuel products. The two companies have signed contracts for the supply of ethanol components and blended products, ensuring a stable, continuous, and competitively priced supply chain. They are also exploring opportunities to expand the market to neighboring countries such as Laos and Cambodia.

One key topic discussed at the workshop was “Coordination in Crude Oil Logistics – Reducing Transportation Costs, Ship Waiting Times, and Responding to Unexpected Supply Shortages at Dung Quat Refinery.”

Currently, Dung Quat Refinery relies primarily on domestic crude oil sources, with some imports. However, crude oil logistics face risks such as political instability, weather conditions, ship delays, disruptions at extraction sites, or technical issues at anchorage points. These factors not only increase costs but also directly impact the refinery’s production and processing plans.

During the workshop, representatives from BSR and PVOIL analyzed the current situation and proposed solutions for more efficient crude oil coordination. Notable proposals included creating a joint scheduling mechanism for oil imports, optimizing vessel rotation, utilizing flexible intermediate storage systems to mitigate port congestion risks, and implementing digital coordination systems to provide real-time updates on supply fluctuations.

In the long term, establishing a flexible crude oil coordination mechanism based on digital data platforms and intelligent forecasting models is seen as a sustainable solution. This would help minimize logistics costs, reduce ship waiting times, and enhance the overall competitiveness of the national petrochemical value chain.

Another key topic discussed was “Value Chain Collaboration in Operating PVOIL’s Phu My Condensate Processing Plant.” This facility, with a capacity of 130,000 tons per year, plays a crucial role in processing condensate - a high-value feedstock in the petrochemical value chain.

Workshop participants emphasized the need for solutions to optimize the plant’s capacity and efficiency by processing additional condensate sources, such as those from Hai Thach Moc Tinh, Sao Vang Dai Nguyet, and Rong Doi. BSR could also assist in handling and consuming by-products like heavy DO and FO from the plant. This collaboration would maximize value chain synergies between BSR and PVOIL, from processing to product distribution. However, to leverage the plant’s potential effectively, it is essential to establish a scientific and long-term value chain collaboration model between PVOIL (the plant owner) and BSR (the end-product consumer).

The workshop was not only an opportunity for these leading companies in refining and fuel distribution to share experiences and establish specific coordination mechanisms but also a strategic step toward optimizing the national energy supply chain. The commitments and directions outlined at the workshop provide a solid foundation for BSR and PVOIL to elevate their partnership, contributing to Vietnam’s journey toward sustainable, green, and efficient energy development.

BSR