Former petroleum executives prosecuted for trade fraud Society

Former petroleum executives prosecuted for trade fraud

The Investigation Police Bureau for Economic Management Order Offences (C46) on June 21 began proceeding procedures against four people accused of abusing position and power to appropriate assets in three petroleum companies under the Vietnam National Oil and Gas Group (PetroVietnam).
PetroVietnam to continue with large-scale divestment  Business

PetroVietnam to continue with large-scale divestment

The State-owned Vietnam Oil and Gas Group (PetroVietnam or PVN) has drafted a plan for a comprehensive restructuring until 2025, under which it will continue with large-scale divestment from all of its member corporations and companies.
Binh Son refinery reports high profit Business

Binh Son refinery reports high profit

The Binh Son Refining and Petrochemical Company (BSR) reported pre-tax profits of 1.3 trillion VND (57.1 million USD) in the first quarter of 2018, up 46 percent compared to the quarterly target.
Equitisation funds to be used correctly Business

Equitisation funds to be used correctly

Proceeds from the sale of State capital at Saigon Beer-Alcohol-Beverage Corporation (Sabeco) and other State-owned enterprises will be used for the right purposes as approved by the National Assembly.
BSR targets over 3.47 trillion VND profit next year Business

BSR targets over 3.47 trillion VND profit next year

Binh Son Refining and Petrochemical Co Ltd (BSR), operator of Dung Quat Refinery, has targeted total revenue of nearly 78.4 trillion VND (3.44 billion USD) and after-tax profit of more than 3.47 trillion VND in 2018.
Business

Vietnam Airlines uses local fuel

Vietnam Airlines has decided to use Jet A1 fuel from the Dung Quat Oil Refinery for its fleets from June 30, said the general director of the Binh Son Refining and Petrochemical Co, Nguyen Hoai Giang.
Locally-made fuel gains price edge Business

Locally-made fuel gains price edge

Domestic demand for the Dung Quat Oil Refinery's petroleum products has been rising sharply due to exchange-rate volatility and an imbalance in foreign-currency supply and demand, said Nguyen Hoai Giang, general director of the Binh Son Refining and Petrochemical Co Ltd, the refinery's operator.