BSR determined to regain growth momentum

According to BSR General Director Nguyen Viet Thang, since the beginning of the year, Dung Quat Oil Refinery has been operating safely, stably and continuously, reaching an average capacity of 114 - 116% (based on CDU), meeting market demand. BSR has ensured sufficient sources of crude oil and intermediate materials, optimized inventories, increased product sales and prepared plans to store products when necessary.

The company also focuses on producing high-value products such as new PP resins (BOPP, F3030, T3045), while closely monitoring the market to optimize crude oil purchases and increase product crack spreads. BSR also focuses on reducing inventory costs, energy consumption and losses.

Engineers operating Dung Quat Refinery.

Binh Son Refining and Petrochemical Joint Stock Company is currently making efforts to implement solutions to accelerate the progress of the Dung Quat Refinery Expansion Project, focusing on closely monitoring the progress of project contracts to ensure timely implementation and no additional costs. Closely coordinating with contractors to promptly handle difficulties and problems during implementation. For other investment projects (crude oil storage tanks, tanker truck loading station expansion, etc.), BSR also actively coordinates with contractors to develop detailed and specific implementation plans and arranges personnel to closely monitor the project to ensure safety, quality and on schedule.

BSR's production and business results in the first quarter of 2025 have achieved and exceeded the set plan, with expected production output reaching more than 1.8 million tons of products (12% higher than the plan), total revenue reaching more than VND 32.2 trillion (14% higher than the plan), contributing more than VND 3.38 trillion to the state budget (6% higher than the plan) and after-tax profit also exceeding the assigned plan.

Regarding the implementation of investment projects, BSR has accepted and put into use works such as safety training houses and works and items in workshops in the factory. At the same time, implementing projects such as building crude oil tanks, upgrading and expanding the existing tank truck loading station, researching and implementing the construction of permanent housing for operating personnel. Regarding the implementation of investment projects at Long Son Petrochemical Complex (Ba Ria - Vung Tau), BSR continues to research and report to competent authorities for consideration in the coming time.

RFCC Workshop - The heart of Dung Quat Refinery.

In 2025, BSR set a target of output of 6.69 million tons; revenue of 114.5 trillion VND; payment to the state budget of about 12,992 trillion VND; estimated after-tax profit of about 746 billion VND; investment value of about 1,740 billion VND.

Compared to the plan set for 2024, BSR has adjusted its output and revenue targets for 2025 slightly higher, based on the results exceeding expectations achieved last year. Compared to the actual performance in 2024, BSR still expects the company to regain profit growth momentum in 2025.

To achieve and exceed production and business results in the second quarter and the following quarters in 2025, BSR sets the goal of ensuring that Dung Quat Refinery operates safely, stably, continuously at optimal capacity and product performance in accordance with market demand and trends in crude oil prices, products as well as product crack margins. Ensure sufficient sources of crude oil and intermediate materials according to the production plan. Optimize inventory, increase product sales and urge customers to receive goods according to contract commitments. Sign a framework contract to rent a warehouse to be ready to store products in case of need.

In addition, BSR increases production of high-value PP products such as BOPP F3030, T3045, etc. with the target output accounting for 20 - 30% of total PP output.

In addition, to cope with the situation of fluctuating and sharply decreasing oil prices, BSR focuses on forecasting to be proactive in production and business, ensuring flexible response and adaptation to market fluctuations; focusing on management solutions, science and technology and innovation in all production and business activities.

At the same time, BSR synchronously deploys solutions for production operations, business, dispatching and financial investment. In particular, production operations are guaranteed to be safe, stable, and maintain high capacity. Regarding business and dispatching, continue to purchase crude oil to optimize capacity, maintain low inventory, urge customers to receive goods on schedule, and consider suitable warehouse rental options. Promote the production of new products such as plastic resins and intermediate petroleum. Regarding financial investment, optimize cash flow and investment activities, ensuring strong financial resources for the company.

To cope with the situation of fluctuating and sharply decreasing oil prices, in addition to the above solutions, BSR will also focus on management solutions, science and technology and innovation in all production and business activities. Expanding domestic and international cooperation, exchanging experiences, acquiring new technologies, improving competitiveness, etc.

PV

Source: https://baoquangngai.vn/kinh-te/202503/bsr-quyet-tam-lay-lai-da-tang-truong-04918f9/