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Binh Son Refining and Petrochemical eyes 37.45 million USD in after-tax profits

Vietnam’s largest refining and petrochemical firm, Binh Son Refining and Petrochemical JSC (BSR), has set a target to earn about 864 billion VND (37.45 million USD) in after-tax profit this year.
Binh Son Refining and Petrochemical eyes 37.45 million USD in after-tax profits ảnh 1The BSR-owned Dung Quat refinery (Photo: VNA)

Hanoi (VNA)– Vietnam’s largest refining and petrochemical firm, Binh Son Refining andPetrochemical JSC (BSR), has set a target to earn about 864 billion VND (37.45million USD) in after-tax profit this year.

The firm also aims to turnout close to 6.5 million tonnes of products, raking in 70.66 trillion VND andcontributed nearly 7.7 trillion VND to the State budget.

BSR’s shares bottomedout in March 2020 but rebounded sharply later and reached the year’s peak atyear-end, enjoying an expansion of 20.7 percent compared to the beginning ofthe year.

Its liquidity alsosurged to an average of 3.64 million of shares per session from 1.73 millionrecorded in 2019, coming third among the oil and gas sector.

The figures reflectthe significant efforts BSR has made amid many difficulties caused by COVID-19and a steep decline in global oil prices.

The firm has builtscenarios and plans to take the initiative in coping with uncertainties of themarket and pandemic; as well as to improve management and bolsterdigitalisation.

BSR posted growthstarting from the third quarter and fulfilled most of its set targets in 2020.

Its Dung Quat refineryenjoyed stable operation at an average capacity of 105 percent in 2020 as awhole, raking in 58.28 trillion VND in revenue and contributing 5.8 trillionVND to the State budget.

BSR also saved up to1.84 trillion VND in production costs excluding crude oil costs, equivalent to19.2 percent of a target assigned by its parent company - the Vietnam Oil andGas Group./.

VNA
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