Binh Son Refining and Petrochemical Joint Stock Company: “Good Management of the Management Plan” helps BSR achieve profits exceeding 93% of the plan

Despite the continued instability of the world oil market due to geopolitical conflicts taking place in many places, the negative impact of US tax policies, strong fluctuations in crude oil prices and increasing competitive pressure, Binh Son Refining and Petrochemical Joint Stock Company (BSR) has recorded positive production and business results in the first 6 months of 2025.

BSR paid 7,411 billion VND to the State budget, exceeding the plan by 13%.

Reporting at the conference to review the first 6 months of 2025 of the Vietnam National Energy Industry Group, BSR said that production output reached more than 3.84 million tons of products (exceeding 16% of the plan), consumption output reached 3.83 million tons (exceeding 17% of the plan). Thereby, the total revenue of the unit recorded more than 69,365 billion VND (exceeding 22% of the plan); pre-tax profit is estimated at about 800 billion VND (exceeding 93% of the plan) and payment to the State budget reached 7,411 billion VND (exceeding 13% of the plan), fully completing the plan for the first 6 months of 2025 in terms of production output and financial targets.

Chairman of the Board of Directors Bui Ngoc Duong shared: These impressive results were achieved thanks to the solidarity, unanimity, persistent efforts and creativity of the Company's Board of Directors and all employees; and especially the timely and effective direction and support of the Vietnam National Energy Industry Group, which helped BSR overcome the most difficult times.

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BSR's Board of Directors inspects the sale of new products at the Tanker Truck Loading Station of Dung Quat Oil Refinery. Photo: BSR

In the context of the global oil market continuing to be unstable due to the armed conflict between Iran and Israel causing disruptions to the supply chain, and Brent oil prices fluctuating sharply in short cycles, BSR has demonstrated its flexible and sensitive management and operation capacity by building many operating scenarios, adjusting production modes according to market developments, and maintaining high operating capacity - at times reaching 124%. This is a clear demonstration of the mettle, ability to adapt, grasp the market and manage production of a pioneer enterprise in the Vietnamese petrochemical refining industry.

Identifying 2025 as the year of “breakthrough in investment and science and technology activities”; “promoting innovation and digital transformation” and “raising BSR culture”, BSR has taken full advantage of solutions to optimize factory capacity based on key production workshops, maintaining operations at the most available capacity, bringing high efficiency. In particular, the crude oil distillation workshop (CDU) has increased from 114% to 118%; the RFCC workshop operates at a marginal level of 110%; the JetA1 aviation gasoline production workshop (KTU) has been increased to 140% to take advantage of the high selling price of Jet-A1 aviation gasoline.

BSR is also proactive in business operations, supply chains, and value chains, coordinating with units in the ecosystem of the Vietnam National Energy Industry Group such as PVOIL, PV GAS, etc. to stabilize product sales and control inventory. At the same time, BSR continues to diversify input materials with more than 20 types of crude oil from the US, West Africa, and Asia, and applies many new chemicals and catalysts to help reduce costs and increase processing efficiency of high-value products.

Resolutely deploy scientific research, innovation and digital transformation

Implementing Resolution No. 57/NQ-TW of the Politburo and the Group's instructions, the Company has also promoted research and development of new products and resolutely implemented scientific research, innovation and digital transformation. In early June 2025, BSR successfully sold sustainable aviation fuel (SAF) - an important step in the transition to clean energy. At the same time, the unit also established an Innovation Center. In particular, the "Digital Factory" model has also been piloted at the RFCC workshop using Petro-SIM software, aiming at real-time data management and will be applied to other workshops of the factory.

In addition, BSR also focuses on increasing the value of products and by-products through the simultaneous operation of two SRU workshops to recover sulfur, expand the production of BOPP resin products, new solvents (White Spirit, MHO), blend 100% mixed C4 into gasoline, and successfully produce granular sulfur products.

In the first 6 months of 2025, Dung Quat Oil Refinery has always operated safely, stably and efficiently at high capacity - at times reaching 124%. Photo: BSR

“The results achieved are not simply numbers. Behind each ton of product, each dollar of revenue or profit are the sweat, effort, intelligence and strong will to rise of the BSR staff. Many practical solutions, innovative initiatives and flexibility in operations have been implemented, bringing about clear results. We respectfully acknowledge and send our deep thanks to all BSR staff for their sense of responsibility, professionalism and unceasing will to overcome difficulties” - BSR General Director Nguyen Viet Thang added.

With the results that BSR has achieved in the first 6 months of 2025, BSR is honored by the Vietnam National Energy Industry Group as one of the three outstanding units of the Group to comprehensively complete the first 6-month management plan in terms of production output and financial indicators.

The last 6 months of the year are forecasted to continue to be full of fluctuations, from global geopolitics to the wave of energy transition that continues to take place strongly, pressure to innovate business models and requirements for sustainable growth. However, with the spirit of solidarity, consensus and aspiration to rise, BSR is determined to strive to successfully complete the production and business tasks in 2025, opening a path of solid development in the following years.

Source: https://daibieunhandan.vn/cong-ty-co-phan-loc-hoa-dau-binh-son-quan-tri-tot-ke-hoach-quan-tri-giup-bsr-dat-loi-nhuan-vuot-93-ke-hoach-10378592.html