Vietnam crude oil exports up 288.42% MoM in February 2026 / Australia +260.70%, Thailand +15.57%

Vietnam exported crude oil to the tune of US$161 million in February, up from US$41 million in January, a change of 288.42 percent, according to preliminary data from Vietnam’s General Department of Customs.

Year to date, Vietnam had exported US$200 million worth of crude oil by the end of February.

Australia accounted for US$81 million worth of Vietnam’s crude oil exports in February. This was up from US$22 million in crude oil exports in January, a change of 260.70 percent. Year to date, Vietnam has shipped US$102 million worth of crude oil to Australia.

After Australia was Thailand making up US$22 million worth of Vietnam’s crude oil exports in February. This was up from US$19 million in crude oil exports in January, a change of 15.57 percent. Year to date, Vietnam has shipped US$40 million worth of crude oil to Thailand.

Next was South Korea taking US$11 million worth of Vietnam’s crude oil exports in February. This was down from US$ million in crude oil exports in January, a change of 0.00 percent. Year to date, Vietnam has shipped US$11 million worth of crude oil to South Korea.

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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).

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).

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Vietnam crude oil news

Recent developments in crude oil in Vietnam include:

Crude oil production

Vietnam produced 741.63 thousand tons of crude oil in February, down 5.55 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. Read more→

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. Read more→

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. Read more→

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Vietnam’s crude oil industry

Vietnam’s crude oil industry has historically been centred on offshore production in basins such as Cuu Long, Nam Con Son and Malay–Tho Chu.

The sector is dominated by state-owned Vietnam Oil and Gas Group (PetroVietnam), which operates through subsidiaries and joint ventures with international oil companies.

Vietnam has been a crude oil exporter for decades, although declining output from mature fields has gradually reduced export volumes.

New exploration projects and enhanced recovery efforts are being pursued to sustain production and support the country’s broader energy security strategy.

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The data

Vietnam’s exports of crude oil in February, US$m