Vietnam’s Binh Son Refining and Petrochemical Company has entered into a framework agreement with ExxonMobil Asia Pacific to secure crude oil supplies for its refinery.

The agreement was signed earlier this week in New York during a meeting between Vietnamese leader To Lam and US business executives. The deal is aimed at expanding the refinery’s crude supply options, including access to oil from the United States.

Binh Son Refining and Petrochemical, also known as BSR, operates a refinery with a processing capacity of 130,000 barrels per day. The company is seeking to broaden its sources of crude to maintain adequate feedstock for the facility.

BSR said its refinery is currently capable of processing 40 different crude grades, including 28 varieties sourced from international markets.

Imported crude accounted for more than 30 per cent of the refinery’s feedstock last year, with supplies coming mainly from West Africa, the Mediterranean region and Southeast Asia.

The new arrangement with ExxonMobil is expected to add another potential source of crude as BSR continues to diversify its supply base.