During a working session between the Petrovietnam delegation and Binh Son Refining and Petrochemical Joint Stock Company (stock code: BSR), BSR’s CEO Nguyen Viet Thang reported the company’s production and business results for the first 11 months of 2025 and the estimated performance for the entire year.
According to the report, BSR produced 7.24 million tons of various products, achieved a total revenue of 130.52 trillion VND, contributed 13.072 trillion VND to the state budget, and recorded a pre-tax profit of approximately 3.595 trillion VND. These results indicate that BSR’s production and business targets for the first 11 months of 2025 have all exceeded the management plan set by Petrovietnam.
BSR’s leadership attributed this success to the implementation of dynamic management across all operations. In production, the Dung Quat Refinery operated at a converted capacity of approximately 120% of its design capacity, with both production and sales volumes surpassing targets, thereby boosting revenue and profit. In terms of business, while crude oil prices trended downward, prices of key products either increased or remained stable, significantly widening the crack spread (the difference between product and crude oil prices).
BSR consistently analyzed, forecasted, and capitalized on high-price windows to enhance sales. The company optimized cash flow and implemented various strategies to increase revenue and financial profits. Additionally, BSR expanded and diversified its product portfolio by introducing high-value plastic pellets such as F3030, T3045, P3034, and TF4035, as well as new products like SAF, granulated sulfur, and E10 RON95 gasoline, contributing approximately 1.54 trillion VND in revenue. BSR also optimized energy consumption, minimized losses, reduced catalyst usage, and maximized cost-cutting in production and business operations. The estimated cost savings for the first 11 months of 2025 reached 751.7 billion VND, exceeding the 2025 savings plan by 23%.
For 2026, alongside traditional solutions, CEO Nguyen Viet Thang presented the Petrovietnam delegation with a set of breakthrough strategies to drive growth and surpass production and business targets.
BSR aims to further increase the refinery’s converted operating capacity, targeting an average of at least 123% – 125% of design capacity, which is expected to generate over 6 trillion VND in additional revenue to offset the impact of declining crude oil prices. The company will also strengthen international trade, aiming for over 8 trillion VND in revenue from both self-produced and traded products.
Furthermore, BSR will enhance innovation efforts, accelerate the production and sales of new products to achieve revenue of over 57 trillion VND, and expand external production (through outsourcing and M&A) and external service provision, targeting a minimum of 500 billion VND and aiming for 3 trillion VND once conditions are met.
In the stock market, BSR shares closed at 15,800 VND per share on November 21st.
