BSR secures three months of crude supply for Dung Quat refinery

BSR secures three months of crude supply for Dung Quat refinery

Binh Son Refining and Petrochemical has secured enough crude oil to operate its Dung Quat refinery for the next three months amid Middle East supply disruptions.

At the company's AGM in Ho Chi Minh City on April 13, Binh Son Refining and Petrochemical JSC (BSR) general director Nguyen Viet Thang said an emergency plan had been activated since the conflict began.

"We have formulated several scenarios ranging from some weeks to half a year based on market developments," said Thang. "The company closely follows the scenarios and ensures crude oil supply to operate at high capacity until early July."

"With the support of Petrovietnam, the company has purchased all crude oil produced locally for its Dung Quat refinery. The volume is sufficient to run the refinery at 90 per cent of its designed capacity," he said, adding that BSR has just signed long-term agreements with many partners from the United States and West Africa in a bid to increase crude oil supply.

Geopolitical tensions in the Middle East since late February have negatively impacted global energy security in 2026. However, BSR has implemented flexible solutions and achieved strong business results.

By the end of the first quarter of 2026, BSR had recorded a production output of 2.03 million tonnes, revenue of VND41.28 trillion ($1.59 billion), state budget contribution of VND3.81 trillion ($146.54 million), and after-tax profit of VND3.35 trillion ($128.85 million).

For the remainder of 2026, despite continued market volatility, BSR is targeting at least 10 per cent revenue growth, with full-year goals of approximately 7.76 million tonnes in production output, 7.71 million tonnes in sales volume, consolidated revenue of VND154.14 trillion ($5.93 billion), after-tax profit of VND2.16 trillion ($83.1 million), and state budget contribution of VND12.6 trillion ($484.62 million).

To achieve its targets, BSR has identified several key priorities for 2026 and beyond. The company will continue to ensure the safe, stable, and efficient operation of Dung Quat Refinery to maintain a reliable petroleum supply for the domestic market. At the same time, BSR will further optimise production and business performance through cost management, improved operational efficiency, and technological innovation.

Investment activities – particularly the Dung Quat Refinery Upgrade and Expansion project – will remain a priority to enhance long-term competitiveness. In parallel, BSR will continue to improve its corporate governance system in line with modern standards, strengthen risk management, and enhance internal coordination efficiency.

One of BSR’s key strategic directions in the coming period is to advance green transition and sustainable development. The company aims to gradually reduce greenhouse gas emissions, improve energy efficiency, and develop environmentally friendly products. Environmental, social, and governance factors will also be integrated into production, business, and investment activities – serving both as a requirement and an opportunity to enhance competitiveness.

VIR