On the side of BSR , there were Mr. Nguyen Viet Thang - General Director of BSR along with members of the Board of Directors, Board of Management, Board of Supervisors, Board of Directors of Dung Quat Oil Refinery and leaders of BSR's professional departments. The workshop was also attended by partners from different countries such as Chevron, Vitol, ...
Overview of the 3rd Crude Oil Trading and Transportation Conference - 2025
Speaking at the opening ceremony of the workshop, Mr. Mai Tuan Dat - Deputy General Director of BSR emphasized: “We are entering a challenging period of the global energy market. Prolonged conflicts have affected the traditional supply sources of the Plant as well as increased risks in transportation, causing logistics costs to escalate, etc. In that context, BSR has determined that it must proactively adapt, improve market analysis capacity, and at the same time strengthen international cooperation to ensure a long-term and sustainable source of input materials for Dung Quat Refinery. This workshop is to affirm the strength of close cooperation and when we work together, we will be more steadfast in the face of all fluctuations”.
BSR Deputy General Director Mai Tuan Dat delivered the opening speech at the Workshop.
2025 is considered a year of great fluctuations in the crude oil market. The impact of the Trump administration's tax policy, geopolitical conflicts in some regions, tensions between major producing countries, especially within OPEC+ and non-OPEC countries. This has made the global oil supply chain no longer as seamless as before. Moreover, according to experts, logistics costs are now accounting for a large proportion of product cost structure. Therefore, many major fluctuations have forced refineries to recalculate their entire strategy of purchasing raw materials, transportation, processing operations, storage, and inventory.
PVOIL Singapore presented a paper at the Workshop
At the conference, speakers from PVOIL Singapore, VIETSEA and Argus Media Company presented contents related to the oil market, transportation market prospects and new product development trends in the energy and petrochemical sectors.
The conference began with an impressive presentation by PVOIL Singapore on current crude oil market and product updates. PVOIL Singapore brought to the conference useful information on the oversupply situation in the global crude oil market, the latest updates on crude oil supply, while gasoline demand decreased in Europe and the US, and slowed down in the Asian market due to weak consumer demand.
Meanwhile, VIETSEA representatives analyzed in depth the situation of the crude oil transportation market, especially the shift of ships from routes through the Suez Canal to routes around the Cape of Good Hope (South Africa) - extending the journey by an average of 7 - 10 days and increasing costs by up to 34%. VIETSEA also gave some comments on the shipping market in the coming time.
A key highlight of the program was the presentation by Argus Media Company on the topic “BSR’s Road Ahead: Orientation of Petroleum Products, SAF and Petrochemical Power”. The speaker emphasized BSR’s pioneering role in approaching new trends in the current situation such as developing Sustainable Aviation Fuel (SAF), diversifying the petrochemical product portfolio and building a long-term response strategy to geopolitical and market fluctuations.
At the Workshop, speakers and market analysts also participated in heated debates on prominent topics related to the oil and gas market, green energy conversion products such as SAF, SMF, environmental protection petrochemical products, etc. and the transportation market.
Concluding the workshop, BSR General Director Nguyen Viet Thang also said that our world is becoming more and more “fragile” in the face of fluctuations. We are now facing a BANI world - a non-linear and confusing world. BSR does not simply react and adapt to fluctuations, but has shifted to “managing fluctuations” with diverse tools and solutions. BSR has also been effectively applying these solutions to overcome uncertainties, minimize risks and achieve sustainable growth.
Quoting the saying “One of us can do so little; Together we can do so much”, BSR General Director Nguyen Viet Thang emphasized: “What impressed us most was not only the knowledge shared, but also the openness and spirit of cooperation. We not only shared information, but also built trust, nurtured relationships, friendship and laid the foundation for long-term cooperation in the future. BSR is committed to sharing and building an even stronger partnership, together overcoming all challenges”.
Delegates attending the workshop took a souvenir photo
The third crude oil trading and transportation workshop is also an opportunity to look back at the journey that BSR has taken since previous workshops. In 2023, the first workshop on crude oil trading and transportation was held, laying the foundation for building a risk warning system in crude oil supply and transportation. Following the 2024 workshop, BSR tested and applied digital technology in tracking ship routes, minimizing ship detention time, searching for new types of crude oil and input materials to increase capacity and operational efficiency. In 2025, the workshop will not only be a place for professional exchange but also a forum connecting partners in the global crude oil supply chain. BSR has clearly demonstrated its sustainable development orientation, high adaptability and strategic thinking in the purchase and sale of crude oil, raw materials and maritime transport.
Chinh Linh
Source: https://bsr.com.vn/web/bsr/-/hoi-thao-thuong-nien-ve-dau-tho-2025-bsr-cam-ket-cung-cac-doi-tac-xay-dung-quan-he-doi-tac-ben-chat-cung-nhau-vuot-qua-thach-thuc
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