Dung Quat oil refinery, owned by the Binh Son Refining and Petrochemical Company, in Quang Ngai province (Photo: VNA) Hanoi (VNA) – The Binh Son Refining and Petrochemical Company (BSR), a subsidiaryof the Vietnam Oil and Gas Group (PetroVietnam – PVN), grossed over 112 trillionVND (4.83 billion USD) in revenue in 2018 thanks to the production and sale ofover 7 million tonnes of its products.
According to the company’s financial report, theBSR contributed over 11 trillion VND to the State budget and earned a profit of3.6 trillion VND.
The total assets of BSR were 60.5 trillion VND mid-year,which reduced to 51.8 trillion VND by the year’s end.
Notably, its debt payment decreased from 29.6trillion VND to about 20.6 trillion VND, while the equity increased from 30.9 trillionVND to over 31.2 trillion VND.
The year 2018 also marked several importantevents for the company.
Notably, onJanuary 17, it became the first unit of the PVN to successfully conduct its initialpublic offering (IPO) at the Ho Chi Minh City Stock Exchange (HoSE), with over242 million shares sold to investors, collecting 5.42 trillion VND for the Statebudget at 53.5 percent higher than expected.
On March 1, the BSR shares were listed on UPCOM.
On June 21, it successfully organised its firstgeneral meeting of shareholders and officially changed into a joint stockcompany on July 1.
On February 25, 2019, the BSR recorded 20million hours of safe operation without accidents – a rare achievement thatmany global refineries would struggle to gain.
It is also ranked seventh in Vietnam’s biggestenterprises and 14th among the 500 most profitable firms in Vietnam. –VNA
VNA
