Binh Son refinery company surpasses production and financial targets in Q1

Hanoi (VNA) - Vietnam’s largest refining and petrochemical firm, Binh Son Refining and Petrochemical JSC (BSR), exceeded both of its production and financial targets in the first quarter of this year.

BSR Director General Bui Minh Tien said that in the reviewed period, BSR sold about 1.56 million tonnes of products in total, surpassing the quarter’s plan by 2.9 percent. 

Its revenue neared 21 trillion VND (913.76 million USD) and profit hit over 1.8 trillion VND. The firm contributed 2.24 trillion VND to the State budget in Q1. 

The achievement was attributable to the improved domestic demand as COVID-19 has been brought under control. 

In addition, increasing oil prices in recent months have facilitated operation of the Dung Quat Refinery, which is under BSR’s management, and the Government's support package in response to COVID-19 is also an important factor. 

To better prepare for production activities in the upcoming quarter, the BSR will keep a close eye on the market so as to devise appropriate and timely solutions in a bid to improve business efficiency and ensure inventories, Tien said.

Plans on crude oil supply and distribution in the latter half of 2021 have been built based on the scenario of the Dung Quat Refinery surpassing its design capacity by 3 percent, equivalent to about 152,440 barrels of crude oil per day./.