HCMC – Idemitsu Kosan pledged to continue securing crude oil supplies for the Nghi Son Refinery and Petrochemical project while expanding its energy investments in Vietnam, including green energy initiatives.
The commitment was made by Atsuhiko Hirano, representative director and vice president of the Japanese company, during a meeting with Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu in Hanoi on June 12.
Hirano said strengthening energy cooperation had become increasingly important amid the energy crisis linked to the Middle East tensions. He noted that Vietnam and other Southeast Asian countries have limited oil reserves and face constraints in crude oil supply.
He affirmed that Idemitsu Kosan would continue efforts to ensure crude oil supplies for the Nghi Son refinery and expand investment in Vietnam’s energy sector, including green energy and refined petroleum products.
Hirano also welcomed recent progress at the Nghi Son refinery. He said crude oil supplies had been secured in the near term, allowing the plant to operate at 100% capacity and post a profit in the first quarter of 2026. He thanked the Vietnamese Government and the Ministry of Foreign Affairs for their support and pledged to continue operating the refinery efficiently and ensuring stable supplies.
Nguyen Minh Vu described the Nghi Son Refinery and Petrochemical project as one of the key economic cooperation projects between Vietnam and Japan, with an important role in safeguarding Vietnam’s national energy security.
He praised Idemitsu Kosan’s investment and cooperation efforts in Vietnam, particularly its role as an investor in the Nghi Son project. He encouraged the company to expand its investments, especially in green energy, and replicate its green energy pellet production model in more localities across the country.
The deputy minister urged Idemitsu Kosan to coordinate closely with other shareholders to maintain stable operations at the refinery, strengthen cost controls, optimize operating cash flow, and develop higher value-added segments within the project’s supply chain.
Nguyen Minh Vu noted that senior leaders of both countries have paid close attention to the Nghi Son project. He added that Japanese Prime Minister Takaichi Sanae had committed to supporting arrangements for crude oil supplies for the refinery under the Power Asia initiative during her visit to Vietnam in May 2026.
The meeting took place as the Vietnam-Japan Comprehensive Strategic Partnership continues to deepen across sectors, following agreements by leaders of the two countries to further strengthen bilateral ties.
