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Market Chatter: Idemitsu Kosan to Supply Nearly 4 Million Barrels of Crude Oil to Vietnam

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Japanese petroleum company Idemitsu Kosan (TYO:5019) will supply Vietnam with around 4 million barrels of crude oil via shipping routes that avoid the Strait of Hormuz, the Nikkei Asian Review reported Monday.

The crude, sourced from the Middle East, will be refined in Vietnam and supports both domestic fuel supply and plastic feedstock production used in Japan-bound exports, reportedly.

The shipment equals roughly 10 days of Vietnam's crude consumption and is expected to help maintain operations at key refineries, including the Nghi Son complex in Thanh Hoa province, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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