HCMC – Vietnam’s Binh Son Refining and Petrochemical JSC (HOSE: BSR) signed memoranda of understanding with Chevron, Marquis Energy and ADM Asia-Pacific Trading Pte. Ltd. in Washington on February 3 to expand energy cooperation with U.S. partners.
The agreements were signed under the witness of Acting Minister of Industry and Trade Le Manh Hung, reported the Vietnam News Agency.
The MOUs focus on crude oil supply for the Dung Quat Refinery, studies on sourcing ethanol from the U.S., and corn supply for ethanol production in Vietnam.
The signing took place as Vietnam and the U.S. stepped up negotiations toward a reciprocal and balanced trade agreement aimed at building a stable, long-term economic and trade framework.
Energy has been identified as a priority area in bilateral cooperation, supporting energy security, two-way trade, and efforts toward a more balanced trade relationship.
The Ministry of Industry and Trade said the agreements reflect its role in linking Vietnamese firms with major U.S. corporations and in advancing strategic cooperation in the energy sector.
BSR General Director Nguyen Viet Thang said the MOUs would help expand the company’s international production and business activities, particularly with U.S. partners.
At the signing ceremony, Chevron representative Barbara Harrison said BSR is an important partner and that Chevron aims to continue supplying crude oil to support the safe and stable operation of the Dung Quat Refinery.
The agreements are expected to contribute to longer-term business cooperation and support the broader Vietnam–U.S. comprehensive strategic partnership.
Closing the trading session today, February 4, BSR edged up 0.64% to VND24,050, with a trading volume of over 18.7 million shares.
Vietnam’s benchmark VN-Index fell 1.21% on the day, losing 21.97 points to close at 1,791.43, as sharp declines in Vingroup-related stocks weighed on the market.
The Hochiminh Stock Exchange saw 167 winners and 155 losers. Trading volume reached 1.05 billion shares, with a total value of VND33.93 trillion, slightly higher than the previous session. Block deals accounted for 84 million shares worth VND2.79 trillion.
Vingroup-related stocks led the decline. VIC plunged to its floor price of VND121,600. VHM dropped 6.17% to VND91,300. Buying at lower levels helped limit losses in other names, with VPL down 1.38% to VND85,500 and VRE slipping 0.53% to VND28,250.
Bank shares were mixed. BID fell more than 2% to VND53,000, the steepest decline in the sector. VCB lost 1.39% to VND70,800. Other lenders remained unchanged or gained slightly.
Securities firms mostly advanced. SSI rose 2.1% to VND31,550, while TVS led the group with a 3.45% gain to VND15,000. VPX increased 1.63% to VND28,000. Other stocks climbed more than 1%, except VDS, VCK, ORS, and VIX.
Steel stocks outperformed the broader market. HPG jumped 5.79% to VND28,300. TLH gained 4.63% to VND5,200, while HSG and NKG rose more than 4%.
Oil and gas shares were little changed. PVD and BSR edged higher, PLX closed flat, and GAS fell more than 1%.
HPG posted the highest trading volume with 145.4 million shares, followed by SHB with 47 million and SSI with 32.4 million.
On the Hanoi Stock Exchange, the HNX-Index edged up 0.29%, or 0.77 point, to 265.95. The northern bourse saw 68 advancers and 87 decliners, with trading volume of 88 million shares valued at VND2.12 trillion.
