Kuwait is considering resuming crude oil supplies to Vietnam, following a phone call on the afternoon of 9/3 between Prime Minister Pham Minh Chinh and Sheikh Ahmed Abdullah Al-Ahmad Al-Sabah, Prime Minister of Kuwait. During their discussion, Kuwait's prime minister agreed to coordinate with relevant partners to explore continuing the supply and to boost energy cooperation between the two nations.

Prime Minister Pham Minh Chinh held a phone call with the Prime Minister of Kuwait, 9/3. Photo: VGP

This potential agreement is significant for Vietnam's energy security. Kuwait, the 5th largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC), is Vietnam's primary crude oil supplier. Last year, Vietnam imported over 14,1 million tons of crude oil, valued at more than 7,7 billion USD, with Kuwait accounting for about 80% of this volume. The Nghi Son oil refinery, which largely processes crude oil from Kuwait, along with the Dung Quat oil refinery, currently satisfies about 70% of Vietnam's domestic petroleum demand.

The discussion also addressed the rapidly evolving global situation, especially recent tensions in the Middle East. These developments impact the energy supply chain, transportation costs, and macroeconomic management. Prime Minister Pham Minh Chinh highlighted that the Vietnamese government is actively responding to the situation. He stated, "Vietnam has mobilized about 4 million barrels of oil from partners to ensure immediate supply, contributing to stabilizing market sentiment and people's lives."

Beyond energy, Prime Minister Chinh proposed advancing the Vietnam - Kuwait Strategic Partnership by implementing existing agreements. He also voiced concern over the ongoing conflict in the Middle East, expressing solidarity with the region's people. He urged Kuwait and other involved countries to exercise restraint, promote de-escalation, and pursue peaceful solutions. Additionally, he requested the Kuwaiti government's continued support for the security and safety of Vietnamese citizens in Kuwait and facilitation of evacuation efforts.

Both prime ministers concluded the call by agreeing to translate commitments into specific cooperation. Key areas for this collaboration include: energy, food security, Halal, and tourism.

Phuong Dung