Hanoi (VNA) – Binh Son Refining and Petrochemical Joint Stock Company (BSR), a subsidiary of Vietnam National Industry–Energy Group, operated the Dung Quat Oil Refinery safely and stably at high capacity, reaching 123.5% of its adjusted capacity in the first quarter of 2026.
The refinery produced 2.03 million tonnes of petrol products, achieving 105% of its management plan, while sales volume reached 2.02 million tonnes, equivalent to 113% of the target. As a result, key financial indicators, including revenue, profits and contributions to the state budget, all exceeded planned levels.
BSR General Director Nguyen Viet Thang said the company has implemented comprehensive solutions to maintain stable operations amid volatility in global energy markets linked to Middle East tensions. These measures included ensuring sufficient feedstock supplies and optimising production to maintain high operating capacity.
The BSR prepared multiple operational scenarios and secured crude oil and intermediate feedstocks to support the refinery's operations at elevated capacity. The company also strengthened supply-chain cooperation, including outsourcing processing at the Phu My Condensate Plant and purchasing high-octane components such as ethanol, reformate and additives to maximise petrol output, particularly during periods of market supply shortages.
The Dung Quat Biofuel Plant has continued producing bioethanol for blending E5RON92 and E10RON95 biofuels. Upgrades to storage tanks and related systems serving E10RON95 production and blending have been completed and are ready for operation.
In the second quarter of 2026, BSR aims to maintain safe, stable and continuous operations at around 123% of adjusted capacity, with expected output exceeding 2 million tonnes. For the full year, the company targets production of 8.3 million tonnes - the highest level since the refinery began operations.
To support market stability, the BSR has adjusted sales policies, including extended payment terms and measures related to jet fuel pricing. The company has also invested in an additional truck-loading facility to improve distribution capacity, while construction of a 9th crude oil storage tank is underway and scheduled for completion in May 2026, helping increase storage capacity for the refinery's operations.
Regarding feedstock supply, the BSR has prepared approximately 2.3 million barrels of Vietnamese crude oil for May and June and plans to continue purchasing intermediate materials and high-octane components to boost RON95 petrol production. Additional ethanol purchases are also planned to support E10RON95 blending.
The company is working with partners to diversify crude oil sources, including potential imports from Russia as well as suppliers in Africa, the US and Southeast Asia. The BSR said it will continue closely monitoring market developments and adjusting procurement plans for the remainder of 2026 to ensure operational efficiency and fulfil targets assigned by Petrovietnam, contributing to national energy security./.
