Crude oil production in Vietnam up 11.43 percent in February

Vietnam produced 741.63 thousand tons of crude oil in February, 11.43 percent from 665.56 thousand tons in January, according to the latest data from the National Statistics Office.

Year-to-date output reached 1,407.19 thousand tons by the end of February.

Listed crude oil companies

Key crude oil firms listed on the Vietnam stock exchange include:

Binh Son Refining and Petrochemical JSC (BSR)

Binh Son Refining and Petrochemical JSC (BSR) operates the Dung Quat Refinery and engages in refining crude oil and producing petroleum products. (BSR)

In February, BSR shares moved from 22.40 to 31.20, a change of 8.80 (0.39 percent). Foreign ownership moved from 23,861,487.86 to 23,420,089.09, a change of -441,398.77 (-0.02 percent).

Hoa Phat Group (HPG)

Hoa Phat Group is one of Vietnam’s largest industrial conglomerates, primarily engaged in iron and steel production, including construction steel, hot-rolled coil, pipes, and galvanised sheets. (HPG)

In February, HPG shares moved from 26.80 to 28.80, a change of 2.00 (0.07 percent). Foreign ownership moved from 21,950,641.11 to 20,361,245.73, a change of -1,589,395.38 (-0.07 percent).

PetroVietnam Drilling and Well Services Corporation (PVD)

PetroVietnam Drilling and Well Services Corporation (PVD) provides oil drilling, engineering, and technical services for the petroleum industry. (PVD)

In February, PVD shares moved from 31.00 to 38.60, a change of 7.60 (0.25 percent). Foreign ownership moved from 2,093,115.71 to 2,015,550.29, a change of -77,565.42 (-0.04 percent).

PetroVietnam Transportation JSC (PVT)

PetroVietnam Transportation JSC (PVT) operates a fleet transporting crude oil, petroleum, and chemicals across Vietnam and internationally. (PVT)

In February, PVT shares moved from 20.75 to 24.05, a change of 3.30 (0.16 percent). Foreign ownership moved from 1,789,709.06 to 1,792,474.01, a change of 2,764.95 (0.00 percent).

Explore opening a trading account in Vietnam→

Vietnam crude oil industry news

Fuel market regulation adjustments

Vietnam’s government issued Resolution 36 on March 6, requiring crude oil owners to prioritise selling unsold crude and condensate domestically where possible.

The resolution also authorises PetroVietnam and affiliated firms to trade, import and export crude oil and fuel production inputs to support domestic supply.

The government will also allow earlier petrol price adjustments when benchmark fuel prices rise at least 7 percent.

Fuel supplies

Vietnam’s Ministry of Industry and Trade said domestic fuel supply for March is “basically secured” thanks to refinery output, reserves and ongoing imports despite rising global oil prices.

The ministry said the Dung Quat and Nghi Son refineries are operating normally, with Dung Quat running at about 118 percent capacity and continuing to supply fuel under existing contracts.

Vietnam’s crude oil industry

Vietnam’s crude oil industry has been a central component of the country’s energy sector since offshore production began in the late 1980s.

Production is dominated by Vietnam Oil and Gas Group and joint ventures with foreign partners operating fields primarily in the Cuu Long, Nam Con Son, and Malay-Tho Chu basins.

Crude oil output has gradually declined from its early 2000s peak as mature fields age, prompting efforts to expand exploration and develop new offshore reserves.

Despite declining production, crude oil remains an important export commodity and a key contributor to state revenue and energy security.

Explore starting a business in Vietnam→

The data

Vietnam crude oil production data February 2026