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According to Sinochem New Network, recently BSR, a Vietnamese oil refining and petrochemical company, signed several memorandums of understanding with American companies such as Chevron, Marquis Energy, and ADM Asia-Pacific Trade, with the aim of enhancing Vietnam’s crude oil supply security and exploring cooperation in the field of biofuels. The agreement signed in Washington this time focuses on two aspects: first, ensuring a stable supply of crude oil for Vietnam’s pomelo oil refineries; second, exploring the potential import of bioethanol and corn feedstock to support biofuel production in Vietnam. This move comes at a time when the United States and Vietnam are advancing negotiations on a bilateral trade framework, with energy cooperation identified as a key pillar for enhancing Vietnam’s energy security, expanding trade, and reducing the trade deficit. Chevron stated that BSR is an important partner in its Southeast Asia operations, and reiterated its commitment to ensuring a stable supply of fuel for the Rongju refinery. The backdrop for BSR to deepen international cooperation is its strong financial performance. By 2025, thanks to higher refining profits and improved operational efficiency, the company achieved net revenue of 141.58 trillion VND, representing a year-on-year increase of around 15%; its net profit even surged by nearly nine times, reaching 5.19 trillion VND.