In 2024, BSR carried out the 5th overall maintenance of the Dung Quat NMLD, aiming to produce over 5.7 million tons of products compared to the annual average of 6.4-6.7 million tons. Prior to the maintenance, the Dung Quat Oil Refinery operated at up to 118% capacity. After a successful overall maintenance, the refinery has been operating safely and stably at optimal capacity. As per the plan, BSR is expected to produce approximately 6,598,803 tons of various products by the end of 2024, exceeding the yearly plan by 15%.
Mr. Cao Tuan Si, Director of Dung Quat NMLD, shared: “The BSR team has been dedicated to ensuring the safe, stable, and efficient operation of the Dung Quat NMLD. We prioritize safety, especially technological safety in production, and strictly adhere to it. We also focus on early detection of hazards and developing and implementing effective risk control solutions, particularly for critical equipment in the refinery. BSR has been flexible and optimized in adjusting processing capacity and product structure according to market demands, contributing to ensuring national energy security and the company’s production and business efficiency.”
BSR regularly conducts maintenance, optimizing available resources and saving costs to ensure the refinery’s safe operation and stability. They focus on enhancing preventive maintenance, reducing maintenance and repair time and volume, and improving the skills and expertise of the maintenance team. BSR also emphasizes the application of scientific and technological solutions to increase labor productivity and the safety and reliability of equipment operations.
In the third quarter and the first half of the fourth quarter of 2024, fluctuations in crude oil prices narrowed the profit margins in the oil refining industry, creating financial pressure for oil and gas corporations and companies worldwide. Binh Son Refinery Joint Stock Company was no exception to this challenging context. To maintain production and business activities and achieve the production target 43 days ahead of schedule, BSR developed and implemented a strategy for managing fluctuations, focusing on ensuring safe operations, diversifying raw material sources, enhancing market forecasting, building response scenarios, and flexibly adjusting production plans according to market changes.
Dung Quat NMLD achieves production target 43 days ahead of schedule.
In addition to strengthening the search for and processing of new types of oil, especially imported oil, to enhance the refinery’s flexibility, BSR has researched the processing of VGO/Residue (intermediate constituents) to ensure the capacity of the RFCC workshop when processing oil with low residue. BSR has also tested and utilized new types of catalysts and additives to enhance competitiveness and optimize production. In the first 11 months of 2024, BSR successfully produced and sold over 40,000 cubic meters of special fuels, including Jet K, DO-L62, and A83. From now until the end of 2024, BSR will continue to produce and sell an additional 17,000 cubic meters of special fuels to fulfill the contract.
BSR has successfully increased the output of high-value products such as ADO, Jet – A1, and PP and adjusted the ratio of Mogas 95/Mogas 92 products from the initial design of 40%/60% to over 70%/30%.
BSR continues to research, evaluate, and pilot-test capacity increases in several technological workshops (CDU at 118-120%, SRU1 combined with SRU2 testing at 130% capacity to maximize the processing of crude oil with high sulfur content, and PP at 140% capacity…). They also explore, assess, and pilot-test new types of crude oil and intermediate raw materials, as well as new catalysts and additives. Additionally, BSR is working on producing new products, including Bio PP, PP compound fiberglass, and PP for medical applications.
In the field of science, technology, and innovation, BSR promotes the application of ESG to enhance competitiveness and sustainable development. They are also upgrading the idea-improvement-initiative and scientific task subsystems of the electronic office system. As a result, in the first nine months of 2024, BSR implemented 217 improvement solutions, generating 340 million USD (equivalent to 8.2 trillion VND) in revenue.
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For this project, the company can enhance the quality of its products and diversify its sources of input. This initiative allows the business to elevate its standards and showcase its ability to innovate and adapt, ensuring it remains competitive and appealing to a wider audience.
“Refinery Petrochemical BSR Files for HOSE Listing”
With a focus on gearing up for new breakthroughs and fulfilling commitments to shareholders at the 2024 Annual General Meeting, Binh Son Refinery and Petrochemical Joint Stock Company (BSR) has accelerated its efforts to complete the final steps of transferring its listing from the UPCoM to the Ho Chi Minh Stock Exchange (HOSE).
“Refinery Giant” Binh Son Petroleum (BSR) Files for Stock Exchange Listing
With a focus on gearing up for new breakthroughs and fulfilling commitments to shareholders made at the 2024 Annual General Meeting, Binh Son Refinery and Petrochemical Joint Stock Company (BSR) has accelerated its efforts to complete the final steps of transferring its listing from the UPCoM to the Ho Chi Minh Stock Exchange (HOSE).
