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.
UNESCO has officially designated 15 December as World Turkic Language Family Day, marking a historic recognition of the linguistic and cultural herita...
The death toll from Typhoon Kalmaegi has risen to 66 as residents in the Philippine province of Cebu confront the devastation left by the storm that f...
Zohran Mamdani made history on 4 November, 2025, when he won New York City's mayoral election, becoming the city's first Muslim mayor, first South Asi...
Democratic socialist Zohran Mamdani has won New York City’s mayoral election, defeating former Governor Andrew Cuomo in a landmark victory that make...
The U.S. Senate has blocked a Republican-backed funding bill for the 14th time, as the government shutdown reached 35 days on Tuesday — tying the lo...
The founding family of Italiana Petroli is close to finalising the sale of the oil refiner to the State Oil Company of Azerbaijan (SOCAR), in a deal that would give the Azerbaijani group control of one of Italy’s largest petrol station networks, three sources have said.
The head of SOCAR România, Ramil Asadullazade, is under scrutiny after Romanian media published photographs and details of an alleged affair with the company’s HR director, Bibiana Constantin.
Azerbaijan-Russia tensions are caused entirely by Moscow’s actions, and it is Russia that must take steps to restore normal relations, said Farid Shafiev at the 13th CICA Think Tank Forum in Baku.
Azerbaijan’s SOCAR will invest $7 billion in Türkiye’s petrochemical sector, reinforcing its role as the country’s largest foreign investor.
Russia said on Monday that its troops had advanced in the eastern Ukrainian city of Pokrovsk, a transport and logistics hub that they have been trying to capture for over a year, but Ukraine said its forces were holding on.
At least 37 people have died and five are missing after devastating floods and landslides hit central Vietnam, officials said Monday, as a new typhoon threatens to worsen the disaster.
The eastern Ukrainian city of Pokrovsk has emerged as a critical point in Russia’s campaign to seize the remaining Ukrainian-held parts of Donetsk, and its fate could shape the course of the conflict in the region.
Tanzania's President Samia Suluhu Hassan vowed on Monday to move on from deadly protests set off by last week's disputed election as she was sworn into office for her first elected term.
Israel’s top military legal officer Yifat Tomer-Yerushalmi, who resigned last week, has been arrested over the leak of a video showing soldiers brutally assaulting a Palestinian detainee at the Sde Teiman military prison.
Jamaican Prime Minister Andrew Holness on Tuesday said that last week's Hurricane Melissa, the strongest-ever storm to hit its shores, caused damage to homes and key infrastructure roughly equivalent to 28% to 32% of last year's gross domestic product.
French judicial authorities announced on Tuesday that they had launched an investigation into the Chinese social media platform TikTok, focusing on the potential dangers of its algorithms pushing young people towards suicide.
Alphabet Inc., the parent company of Google, is entering the U.S. dollar and euro debt markets with a multi-tranche senior unsecured notes issue.
Microsoft has agreed a $9.7 billion partnership with data centre operator IREN, granting it access to Nvidia’s latest chips in a move designed to ease the computing bottleneck that has hampered the company’s ability to fully capitalise on the artificial intelligence boom.
Chinese electric carmaker BYD is making major strides in Europe, with sales surging nearly fivefold in September from a year earlier to just under 25,000 new registrations.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment