Vietnam’s $3 billion oil refinery has secured a deal for 3 million barrels of imported crude oil, warning of risks as the plant runs at 118-120% capacity

Dung Quat Refinery of BSR has signed a contract to import 3 million barrels of crude oil amidst rising oil prices due to geopolitical tensions in the Middle East. Currently, about 30-35% of the refinery’s crude oil supply is still dependent on imports, posing significant risks if the situation in the Middle East persists. To achieve optimal capacity of 120% in the upcoming period, BSR faces increasing cost pressures due to soaring oil prices and potential disruptions in the supply chain. BSR’s CEO calls on the government to prioritize domestic crude oil supply to mitigate operational risks, especially during critical risk peaks in May-June 2026.