Business

PetroVietnam plans IPO for petrochemical unit

The Vietnam Oil and Gas Group, or PetroVietnam, will equitise the Binh Son Refining and Petrochemical Limited Company (BSR).
PetroVietnam plans IPO for petrochemical unit ảnh 1An oil-rig in the Bach Ho oilfield of Vietsovpetro, a joint venture between PetroVietnam and Russia's Zarubezhneft. (Source: VNA)


Hanoi (VNA) - The Vietnam Oil and Gas Group, or PetroVietnam (PVN), will equitise the Binh Son Refining and Petrochemical Limited Company (BSR).

According to a statement released in early November, PetroVietnam will announce the corporate value of BSR on December 31 this year.

BSR has been making preparations for the equitisation, including looking for partners to buy shares and searching for consultancy firms to estimate the value of the company's assets.

BSR is managing the Dung Quat Oil Refinery, the first refinery of Vietnam. The company's main activities are producing and selling petroleum products, biofuels and polypropylene plastic beads.

The company has a charter capital of 35 trillion VND (1.56 billion USD) and 1,500 employees. In the first 10 months of this year, BSR produced 5.64 million tonnes of products in various categories, achieving 96 percent of the company's target this year.

BSR sold 5.52 million tonnes of products, equivalent to 94 percent of this year's target. The company contributed more than 18.3 trillion VND (815.9 million USD) to the state budget.

BSR also signed a contract on August 28 with the United Kingdom-based Amec Foster Wheeler Energy Limited for the preparation of a master design for the Dung Quat Oil Refinery expansion project in the central Quang Ngai Province.

The contract work, worth 25.6 million USD, was launched at the beginning of August and will continue till November 2016.-VNA

VNA
#PetroVietnam #BSR #equitisation #shares #Dung Quat Oil Refinery
Follow VietnamPlus

Related News

PVN targets 7.6 billion USD in revenue in Q2

PVN targets 7.6 billion USD in revenue in Q2

The Vietnam Oil and Gas Group (Petro Vietnam or PVN) targets 164.6 trillion VND (7.62 billion USD) in revenue during the second quarter of 2015, paying 30.1 trillion VND (1.4 billion USD) in tax.

See more

The VSS reported that total accumulated reserves across the social, health, and unemployment insurance funds now top 1.5 quadrillion VND. (Illustrative photo: VNA)

VSS pledges tighter fund management, diversified investments

The VSS will also impose stricter financial discipline in fund management, while pursuing broader diversification of investment portfolios, as guided by the principle of “safety, sustainability, and efficiency”. This approach aims to secure strong liquidity for prompt benefit payouts and support growth in Vietnam’s capital markets and overall economy.

The ceremony unveiling AFT Connect portal (Photo: nhandan.vn)

AFT Connect portal links Vietnamese clean food producers

The platform is expected to serve as shared digital backbone enabling stakeholders in the clean food sector to gradually digitise, standardise, and publicly disclose information, ultimately aiding the fight against unsafe products and protecting consumer interests.

A Vietcombank employee guides a client in biometric process (Photo: qdnd.vn)

Vietnam's biometric surge powers digital banking overhaul

As the Party identified breakthroughs in science – technology and innovation as a key driver of national progress, the mastery and adoption of biometric technologies must go hand in hand with safeguarding public trust, data security, and citizens’ interests, all aligned with the people-first philosophy guiding the country's digital agenda.

A spring fair kicks off in the central Da Nang city on January 22, 2026 (Photo: VNA)

Da Nang 2026 spring fair features 200 booths

The fair features a diverse range of products and services, focusing on items for Tet such as food and beverages, regional specialties, OCOP products, and rural and industrial goods; fashion, footwear, cosmetics, and sports equipment; health care products and beauty services; household items, interior and exterior décor, and handicrafts; as well as equipment, technology, and services in sectors like electronics, automobiles, and telecommunications.

The Ministry of Finance is working to establish a mechanism for regular and ongoing dialogue with international credit rating agencies, including Fitch, Moody’s and S&P. (Illustrative image: VNA)

Fitch Ratings upgrades Vietnam’s senior secured long-term debt rating to BBB-

The rating for Vietnam’s secured long-term debt was raised to BBB-, equivalent to investment grade, one notch higher than the country’s long-term foreign-currency rating on unsecured debt, which remains at BB+. The upgrade followed Fitch’s review under its revised Sovereign Rating Criteria issued in last September, said the Ministry of Finance.

A view of the site where the Ninh Thuan 1 Nuclear Power Plant is located in Phuoc Dinh commune, Khanh Hoa province (Photo: VNA)

Nuclear experts urge century-long commitment at 14th Party Congress

VietNuc’s executive board, including Chairman Bui Nguyen Hoang from the Électricité de France SA (EDF) (EDF), Ung Quoc Hung from Setec Nucléaire Group, and Vu Minh Ngoc from French National Radioactive Waste Management Agency Andra, hoped that the Congress would refine mechanisms and policies to better tap OV nuclear talents.

Ahmad Haikal Hasan, Head of the Halal Product Assurance Organising Agency (BPJPH) of Indonesia, speaks at the seminar (Photo: VNA)

Indonesia ready to cooperate with Vietnam in halal sector

Ahmad Haikal Hasan, Head of the Halal Product Assurance Organising Agency (BPJPH) of Indonesia, described Vietnam as a “potential supplier” of halal products with the capacity to play a larger role in the market, particularly in the fast-moving consumer goods (FMCG) sector. He revealed a plan to visit Vietnam next week to discuss the country’s progress in the global halal industry.

Delegates perform the opening ceremony. (Photo: VNA)

Thailand Week 2026 opens in Hanoi

The event brings together more than 100 companies, including Thai enterprises and Vietnamese importers, across about 120 booths. It features a wide range of Thai products aligned with consumer trends in Vietnam, including food and beverages, health and beauty, mother-and-baby and pet products, fashion and jewellery, household goods and tourism services.

Illustrative image (Photo: VNA)

Vietnam remains Singapore’s third-largest seafood supplier in 2025

Data released by the Accounting and Corporate Regulatory Authority of Singapore (ACRA) show that Singapore spent 125.5 million SGD (97.7 million USD) importing seafood from Vietnam last year, up 10.7% year on year, accounting for 10.3% of the city-state’s total seafood import market.

Workers assemble mobile phone components at Diem Thuy Industrial Park in the northern province of Thai Nguyen. (Photo: VNA)

Electronics exports surpass 107 billion USD in 2025

With an export turnover of 107.75 billion USD in 2025, computers, electronic products and components not only maintained their position as Vietnam’s largest export by value, but also contributed more than half of the overall increase in the country’s export turnover in 2025.