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.
Two Greek-flagged ships departed Syros on Sunday evening to join the Global Sumud Flotilla, an international mission aimed at breaking Israel’s bloc...
U.S. and Chinese delegations concluded their first day of trade talks in Madrid on Sunday, focusing on tariffs, TikTok, and the economy, with discussi...
Algerian President Abdelmadjid Tebboune appointed Sifi Ghrieb as prime minister and Mourad Adjal as energy minister on Sunday, following a cabinet res...
Fox News host Brian Kilmeade, co-host of Fox & Friends, apologised on-air on Sunday for saying homeless mentally ill people should face “involuntar...
The World Health Organization has started vaccinating frontline health workers and contacts of Ebola patients in the Democratic Republic of Congo’s ...
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.
Russian drones deliberately struck a SOCAR oil depot in Ukraine's southern Odesa region for the second time in two weeks on Monday (18 August), according to Ukrainian officials.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
Music mega-star Taylor Swift and National Football League player Travis Kelce announced their engagement. “Your English teacher and your gym teacher are getting married," the couple wrote in a joint Instagram post, alongside photos of Kelce proposing to Swift in a garden of pink and white flowers.
India's retail inflation (INCPIY=ECI) rose to 2.07% in August as food prices edged up, although it remained within the central bank's tolerance range for the tenth consecutive month.
Jaguar Land Rover (JLR) said Wednesday that it now believes “some data has been affected” after a cyberattack forced the company to shut down operations last Tuesday. Staff have been instructed to work from home since the incident.
Oracle co-founder Larry Ellison has overtaken Tesla Chief Elon Musk as the world’s richest person after a surge in the company’s stock lifted his net worth to $393 billion, according to the Bloomberg Billionaires Index.
China has launched its first review of its foreign trade law since 2004, signalling a potential shift in how the country manages international commerce amid rising global trade tensions.
The U.S. will lower tariffs on Japanese cars and auto parts by 16 September under a trade deal formalised by President Donald Trump, Japan’s chief negotiator said Tuesday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment