BSR accelerates green transition to drive growth by 2030

Nov 5th at 08:42

05-11-2026 08:42:42+07:00

Bình Sơn Refining and Petrochemical JSC (BSR), a member of the Vietnam National Industry - Energy Group (Petrovietnam), is stepping up efforts to expand its operations, enhance competitiveness and shift towards a greener and more sustainable business model to drive growth in the 2026-2030 period.

A view of Bình Sơn Refining and Petrochemical JSC (BSR). The company plans to expand its markets, accelerate the energy transition and develop new products, Photo baochinhphu.vn

Alongside maintaining safe and efficient production and business operations, BSR plans to expand its markets, accelerate the energy transition and develop new products, including sustainable aviation fuel (SAF), sustainable marine fuel (SMF), and biodiesel (BioDO).

The company also aims to develop higher value-added petrochemical products, including premium polypropylene compounds (PP compounds), bitumen derived from residual oil and carbon black.

BSR is also focusing on expanding its petrochemical value chain, seeking investment partnerships and mergers and acquisitions (M&A) opportunities. It is also stepping up corporate restructuring, improving capital efficiency and gradually adopting corporate governance principles in line with international standards set by the Organisation for Economic Co-operation and Development (OECD).

On the investment front, BSR is accelerating the Dung Quất Refinery Upgrade and Expansion Project. To date, 86.6 per cent of the site clearance has been completed, while detailed engineering and the procurement of materials and equipment are underway under an engineering, procurement and construction (EPC) contract signed on July 9, 2026.

BSR General Director Nguyễn Việt Thắng said that since the beginning of the year, the company has maintained the Dung Quất Refinery at high operating capacity while making further progress in process optimisation, operational efficiency and energy savings.

BSR has also expanded its crude oil processing capacity to accommodate 40 crude grades and successfully tested new crude oil types. These efforts have helped diversify its feedstock sources and increase operational flexibility.

In addition, the company has commissioned an online gasoline blending system and an expanded truck loading station, helping boost production capacity and optimise product sales and distribution.

BSR said that with production maintained at stable levels, its production and sales targets for 2026 were expected to exceed annual plans. Specifically, output and sales of products from the Dung Quat Refinery are projected to be 8-12 per cent above plan.

The company's consolidated revenue is forecast to reach VNĐ223.99 trillion (US$8.71 billion) in 2026, 17 per cent above the annual target and up 56 per cent from 2025.