Great contribution to the budget, ensuring national energy security
The Dung Quat Oil Refinery (NMLD) construction project under BSR has a total investment value of 3.054 billion USD and produced the first commercial product on February 22, 2009. After 15 years of establishment and development, up to now, Dung Quat Oil Refinery has operated stably, supplying about 30% of domestic gasoline and oil sources and contributing to ensuring energy security for Vietnam. In particular, Dung Quat Oil Refinery is considered a magnet for attracting investment, turning Quang Ngai from a purely agricultural province to an industrially developed province, among the top localities contributing a lot to the national budget.
Up to now, BSR has processed more than 94 million tons of crude oil, produced and sold more than 86 million tons of products to the market, with revenue reaching nearly 1.7 million billion VND, after-tax profit of more than 44,000 billion VND, and paid to the state budget more than 207,000 billion VND (equivalent to nearly 9 billion USD) - nearly 3 times the total investment of the project. Notably, in 2022, BSR will pay to the state budget more than 19,000 billion VND. In Quang Ngai province alone, BSR accounts for 56% of the province's total budget revenue.
Chairman of Quang Ngai Provincial People's Committee Dang Van Minh affirmed: "Dung Quat Economic Zone is the growth nucleus of Quang Ngai province with the heart being Dung Quat Oil Refinery. The great contributions of Dung Quat Economic Zone in general, and Dung Quat Oil Refinery in particular, have significantly contributed to turning Quang Ngai from a poor, purely agricultural province with a low starting point for its economy, with its budget completely dependent on the support of the Central Government from 2009 onwards, to now becoming a province with a large source of revenue with an economic scale of 121,668 billion VND".
In addition to its great contribution to the budget, Dung Quat Refinery also plays an important role in ensuring national energy security. At the end of 2022, when the Vietnamese gasoline and oil market has many fluctuations, the role of Dung Quat Refinery becomes even more important. When fluctuations occur, Dung Quat Refinery always operates stably, at high capacity, at times at 112% - the highest in its operating history, contributing to stabilizing the demand for domestic gasoline and oil market when supply is seriously lacking. Regulating output, quickly exporting goods to stabilize the market, these are specific actions, affirming the role of Dung Quat Refinery - one of the important bricks helping Vietnam ensure energy security, building a solid foundation for the country's development.
Training experts, scientific research for development
In the past 5 years, BSR has faced numerous difficulties and challenges due to the impacts of the world oil and gas market and the Covid-19 pandemic. In that context, BSR's management work has once again demonstrated its importance. BSR's leaders have calculated the market to come up with optimal solutions, such as: Operating the factory at a minimum level, optimizing product structure, mobilizing warehouses outside the factory to increase product storage capacity, issuing policies to stimulate product sales, actively negotiating with partners to swap or extend the progress of receiving crude oil batches, avoiding crude oil inventory... These solutions help BSR overcome the crisis period, restore production and business as soon as the market gradually recovers.
During the development process, BSR has also repeatedly faced the risk of raw material shortages, energy competition... in the petrochemical refining sector. To overcome these, BSR has identified scientific research as a strategic solution in optimizing capacity; ensuring safe and stable production; reducing energy consumption and ensuring environmental factors, improving production efficiency, business and sustainable development of the enterprise. In the scientific research movements, the 1 million initiatives program launched by the Vietnam Oil and Gas Group (Petrovietnam), BSR has become the leading unit in terms of quantity in the oil and gas industry with 383 initiatives. The most prominent in scientific research at BSR in recent times is the cluster of works "Solutions for applying science and technology to optimize the production process of Dung Quat Oil Refinery to improve the operational efficiency and competitiveness of BSR". The complex was honored to receive the State Prize for Science and Technology from the President for its contribution to the cause of building socialism and defending the Fatherland.
Assessing the success of BSR, Petrovietnam General Director Le Manh Hung commented: BSR's staff are not simply oil refiners but oil refinery experts. BSR's human resources have mastered oil refining technology, reaching the top level in the region. Identifying the collective of workers as the valuable asset that the Company has, BSR General Director Bui Ngoc Duong emphasized that BSR will continue to build, spread, and develop corporate culture associated with the Petrovietnam Cultural Regeneration Project to arouse and foster the pride and solidarity of oil refiners, for the sustainable development of Petrovietnam and the country.
Article and photos: AN SON
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