Nghi Son Refinery and Petrochemical LLC (NSRP) announced it has secured sufficient crude oil to maintain continuous operations at optimal capacity through the end of May 2026.

According to NSRP, the company received its latest crude shipment from Kuwait in mid-March. Shortly afterward, geopolitical tensions in the Strait of Hormuz disrupted the schedule of subsequent deliveries.

Facing tightening supply conditions, the refinery proactively strengthened its sourcing strategy and arranged alternative crude supplies, ensuring stable operations in the coming months.

As a result, the Nghi Son refinery has maintained full-capacity operations throughout March and secured enough crude to sustain production at optimal levels until the end of May, maximizing fuel output to meet domestic demand.

At the same time, the company continues to actively seek additional crude and feedstock sources to further increase capacity when conditions allow.

In parallel, Petrovietnam has implemented synchronized response measures and flexible operational management across its system.

The group and its subsidiaries have worked closely with partners to diversify crude oil sources, petroleum products and blending materials. This proactive approach has ensured uninterrupted fuel production and supply for the economy.

Specifically, the Dung Quat Refinery is operating at 120% of its designed capacity, boosting domestic supply while remaining ready to support Nghi Son when needed.

In the first quarter of 2026, Petrovietnam’s petroleum output - excluding Nghi Son - is estimated to have increased by 8.4% year-on-year, exceeding internal targets by nearly 11%.

Crude oil production during the same period reached an estimated 2.63 million tonnes, surpassing plans by 10.4% and rising 10.2% compared to the first quarter of 2025.

Meanwhile, PVOIL has stepped up imports and launched additional tenders beyond its initial plan. Fuel supply across its network of more than 900 retail stations has remained smooth and uninterrupted.

According to data from customs authorities, Vietnam imported 5.5 million tonnes of petroleum products and crude oil in just the past two and a half months, an increase of 0.6 million tonnes compared to the same period in 2025.

Notably, this acceleration in fuel imports comes as tensions in the Middle East continue to escalate, helping to stabilize domestic supply in a challenging global context.

Tam An