Vietnam and Azerbaijan plan to expand cooperation in oil exploration and production. Several energy sector agreements were signed during the recent state visit of To Lam, General Secretary of the Communist Party of Vietnam, to Azerbaijan.
Among the signed documents are agreements in the energy sector between Petrovietnam, its subsidiaries, and the Azerbaijani side, according to the statement of the Vietnam National Industry - Energy Group (Petrovietnam).
“Petrovietnam and the Azerbaijan Ministry of Economy exchanged a memorandum on oil and gas exploration and production with SOCAR, as well as agreements covering technical services and the education sector,”- the statement reads.
Additionally, Binh Son Refining and Petrochemical JSC (BSR)—a Petrovietnam affiliate—and the Azerbaijan Ministry of Economy exchanged a memorandum regarding long-term crude oil supply for the Dung Quat Oil Refinery. This agreement involves BSR, Petrovietnam Oil JSC (PVOil), and SOCAR Trading Singapore.
“Since 2009, PVOil and BSR have signed multiple agreements and contracts with SOCAR Trading SA—a SOCAR subsidiary—for the supply of Azeri crude oil to the Dung Quat refinery. Between 2010 and January 2025, SOCAR Trading Singapore, a branch of SOCAR Trading SA, has supplied 35 shipments totaling approximately 31.7 million barrels (around 4.34 million tonnes), valued at about $2.55 billion,” the statement said.
Petrovietnam also emphasized plans to strengthen cooperation in education.
“Since 2010, Petrovietnam has maintained long-term educational agreements with the Scientific-Research Institute of Oil, Gas Geotechnology, and Chemistry of Oil under the Azerbaijan National Oil Academy,” the statement continued. “Together, they have organized 27 technical training programs for Petrovietnam specialists in both countries. A new specialized training program on drilling technology is expected in Vietnam in 2025.”
Vietnamese media reported that on May 7, Petrovietnam’s delegation met with SOCAR’s leadership to discuss future cooperation.
“The parties focused on long-term oil supply for the Dung Quat refinery, collaboration in petrochemicals, joint research, and technical training,” the report stated. Petrovietnam Vice President Le Manh Cuong expressed hope that the two companies would soon form a joint working group to outline specific steps for implementing the new agreements.
Interfax reported that to Azerbaijan’s State Customs Committee, oil exports to Vietnam totaled 607,600 tonnes ($491.3 million) in 2022, 554,400 tonnes ($345.5 million) in 2023, and 138,500 tonnes ($77.9 million) in 2024.
Four people have sustained varying degrees of injuries after two drones fell near Dubai's International Airport on Wednesday, as Iran and Israe...
At least six people have died after a bus caught fire in Kerzers, Switzerland, in what police say may have been a deliberate act. Witnesses reporte...
A 35-year-old woman was charged with attempted murder on Tuesday (10 March) after allegedly firing a semi-automati...
Australia has granted humanitarian visas to five Iranian women footballers who sought asylum, fearing persecution after refusing to sing their nati...
A towering lava fountain from Kilauea shot about 400 metres into the air late on Tuesday (11 March) on Hawaii Island, prompting temporary closures ...
A freight train carrying more than 1,000 tons of Russian grain will depart for Armenia through Azerbaijani territory on Wednesday. The shipment consists of 11 wagons loaded with a total of 1,023 tons of agricultural cargo.
Up to 30 tonnes of food will be delivered to Iran amidst ongoing hostilities with U.S. and Israel, following a phone converstation between the President of Azerbaijan Ilham Aliyev and Iranian counterpart Massoud Pezeshkian.
Azerbaijan is evacuating nearly 200 people from the Middle East on a special charter flight departing from Oman.
Türkiye’s official anti-disinformation agency has issued a statement refuting what it described as online “disinformation” and reiterating the strength of relations between Türkiye and Azerbaijan.
Tensions in the region remained high on Tuesday (10 March), as the United States and Iran exchanged increasingly sharp warnings, including threats over the strategic Strait of Hormuz, a critical artery for global oil supplies.
China has urged Afghanistan and Pakistan to resolve their dispute through dialogue after Chinese envoy Yue Xiaoyong met Afghan Foreign Minister Amir Khan Muttaqi, as fighting between the two neighbours entered its eleventh day.
Kazakhstan has evacuated more than 7,300 citizens from the Middle East since regional tensions escalated, using both air and land routes to bring nationals home while closely monitoring political developments and potential economic effects linked to rising oil prices.
Almost 2,000 people have been evacuated from Iran via Azerbaijan since conflict erupted in the Middle East.
Norwegian police are searching for a suspect after an explosion at the U.S. embassy in Oslo on 8 March caused minor damage but no injuries, in what authorities say may have been a deliberate attack linked to the Middle East crisis.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
The European Commission sees no immediate impact on the European Union's security of oil supply from the escalating conflict in the Middle East, it said in an email to EU governments, seen by Reuters on Monday (2 March).
Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment