June 04, 2026 [Reuters]- Commodity trader Vitol on Wednesday said Vitol Asia has signed a crude oil sale and ​purchase agreement with Nghi Son Petroleum Products Distribution ‌Branch, authorized by Vietnam’s state energy firm Petrovietnam.

• Vitol said the agreement is for the supply of one crude oil ​cargo to Nghi Son Refinery and Petrochemical ​Limited Liability Company.
• The trader added this marks the ⁠first crude oil supply transaction between Petrovietnam and ​Vitol for the Nghi Son Refinery
• It also represents a ​practical step in implementing the memorandum of understanding signed between Petrovietnam and Vitol in Singapore, Vitol said.
• Commodity traders like Vitol ​have global networks to source supply from that ​they can ship to refiners in Asia which have lost ‌access ⁠to Middle Eastern supply in the wake of the Strait of Hormuz closure.
• In May, Petrovietnam had said it received its first cargo of Djeno crude oil from ​Republic of ​the Congo ⁠for Nghi Son Refinery and Petrochemical LLC.
• Nghi Son had said earlier it is ​considering quarterly tenders and spot cargo procurement ​to ⁠secure enough crude oil for its operations.
• “During the session, Petrovietnam and Vitol also reviewed opportunities to deepen cooperation ⁠across ​the energy sector, including crude ​oil, petroleum products, LNG, strategic storage and related activities,” Vitol said.