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Dung Quat refinery earns 26 mln USD in Q1’s post-tax profit

The Dung Quat oil refinery, based in the central province of Quang Ngai, exceeded its designed capacity by 7 percent in the first quarter of 2019, helping it gain over 606 billion VND (26 million USD) in post-tax profit during the period.
Dung Quat refinery earns 26 mln USD in Q1’s post-tax profit ảnh 1A view of the Dung Quat oil refinery (Photo: VNA)

Hanoi (VNA) – The Dung Quat oil refinery, based in the central province of QuangNgai, exceeded its designed capacity by 7 percent in the first quarter of 2019,helping it gain over 606 billion VND (26 million USD) in post-tax profit duringthe period.

In Q1, the factory turned out more than 1.7million tonnes of products and earned over 23.05 trillion VND in revenue. Itcontributed some 2.44 trillion VND to the state budget, according to thefinancial report for Q1 of the Binh Son Refining and Petrochemical JSC (BSR) –a member of the State-owned Vietnam Oil and Gas Group and the operator of therefinery.

The BSR said global crude oil prices fluctuatedunpredictably from Q4 of 2018 through February this year. Facing that fact, thecompany took many drastic and timely measures, including aligning the Dung Quatrefinery’s operations with the market, promoting marketing activities, andboosting energy and technology optimisation solutions.

As a result, its profit in Q1 improvedconsiderably compared to the previous quarter.

To achieve this year’s targets, the BSR willcontinue working to ensure its factory operates safely and stably and at 105 –107 percent of the designed capacity.

The firm will also press on with restructuringits apparatus while upgrading and expanding the Dung Quat refinery asscheduled.-VNA
VNA
#Dung Quat oil refinery #Binh Son Refining and Petrochemical JSC #BSR #post-tax profit of Dung Quat oil refinery #Vietnam Oil and Gas Group #designed capacity of Dung Quat oil refinery #updated Vietnam news #Vietnamplus #Vietnam News Agency
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