Refinery operator BSR back in the black
Refinery operator BSR back in the black
Binh Son Refining and Petrochemical Jsc has turned around after a disastrous 2020 and reported a pre-tax profit of VND1.85 trillion ($80.5 million) for the first quarter.
Dung Quat Oil Refinery in the central province of Quang Ngai. Photo courtesy of Binh Son Refining and Petrochemical Jsc.
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The operator of the Dung Quat Oil Refinery in central Vietnam said revenues rose 17 percent year-on-year to VND21.05 trillion.
It had reported a loss of nearly VND2 trillion in the first quarter last year.
BSR went through a challenging 2020 as the Covid-19 pandemic pushed down oil prices, sending its revenues and profits plummeting, while a 51-day closure of the refinery caused a fall in output.
In the event it reported a loss of VND2.8 trillion for the full year.