Hanoi (VNA) – Vietnam’s largest refining and petrochemical firm, Binh Son Refining and Petrochemical JSC (BSR), sets its sight on generating more than 70.66 trillion VND (3.06 billion USD) in revenue and around 864 billion VND in post-tax profit this year, according to a plan adopted by its Board of Directors on February 1.

The plan has been developed based on the crude oil reference price of 45 USD per barrel and reference exchange rate of 23,500 VND per USD.

The BSR also aims to turn out close to 6.5 million tonnes of products and contributed approximately 7.7 trillion VND to the State budget.

To deal with the COVID-19 resurgence and the fluctuating crude oil market, the corporation will pursue a strategy for long-term crude oil purchase, lasting at least 3 – 5 years, expected to meet 50 – 80 percent of its input.

It also plans to accelerate restructuring, complete divestment, and speed up the expansion of Dung Quat Refinery in 2021.

Last year, the company’s output reached 5.93 million tonnes, 7 percent higher than the yearly plan, despite impact of the COVID-19 and nose-diving oil prices. It earned roughly 57.9 trillion VND in revenue and contributed over 6.24 trillion VND to the State budget./.