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 projected full-year performance.
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 key performance indicators for the first 11 months of 2025 exceeded the management targets set by Petrovietnam.
According to BSR’s leadership, the success in meeting and surpassing management targets is attributed to the implementation of dynamic management across all operations. In production, the Dung Quat Refinery operated at approximately 120% of its designed capacity, with output and sales exceeding plans, thereby boosting revenue and profit. In terms of business, despite a downward trend in oil prices, the prices of key products either increased or remained stable, significantly widening the crack spread between product and crude oil prices.
BSR consistently analyzes, forecasts, and capitalizes on high-price windows to enhance sales. The company optimizes cash flow and employs various strategies to increase revenue and financial profits. Additionally, BSR has expanded and diversified its product portfolio by introducing high-value plastic resins 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 focuses on optimizing energy consumption, minimizing losses, reducing catalyst usage, and cutting operational costs. The estimated cost savings for the first 11 months of 2025 reached 751.7 billion VND, surpassing the 2025 savings target by 23%.
For 2026, alongside traditional measures, CEO Nguyen Viet Thang presented the Petrovietnam delegation with a set of breakthrough solutions to drive growth and exceed production and business targets.
BSR aims to further increase the refinery’s operational capacity to an average of 123%–125% of its designed capacity, generating additional revenue of over 6 trillion VND to offset the impact of declining crude oil prices. The company will also strengthen international trade, targeting over 8 trillion VND in revenue from both self-produced and traded products.
Furthermore, BSR will enhance innovation efforts, accelerate the production and marketing of new products to achieve revenue of over 57 trillion VND, and expand external production through outsourcing and M&A. The company aims to generate at least 500 billion VND from external services, with a long-term goal of reaching 3 trillion VND once conditions are favorable.
In the stock market, BSR shares closed at 15,800 VND per share on November 21.
Oil Tycoon Rakes in Nearly $430 Billion Daily Over First 11 Months of the Year
By 2026, BSR aims to significantly expand its production and business operations, focusing on new products and striving to achieve a revenue target exceeding 57,000 billion VND.
Accelerating Production to Surpass the 2025 Plan
“The most tangible action BSR can take to support our fellow citizens nationwide is to vigorously enhance our production and business operations, striving to meet and exceed our 2025 targets. This effort will help offset the losses our people and country have endured due to recent flooding in various regions. We are proactively developing new growth drivers and gradually establishing a sustainable development model for 2026 and beyond.”
Accelerating BSR’s Operations to Offset National Flood Damage
BSR is committed to taking meaningful action to support our fellow citizens across the nation. Our most impactful step is to intensify our production and business operations, striving to meet and exceed our 2025 targets. By doing so, we aim to contribute to the recovery efforts and help offset the losses endured by our people and country due to the recent devastating floods in affected regions.
Prime Minister Facilitates Collaboration Between Vietnam and South Africa’s National Oil and Gas Corporations
On the morning of November 21st (local time, afternoon of the same day in Hanoi), as part of his attendance at the G20 Summit and bilateral activities in South Africa, Prime Minister Pham Minh Chinh held a meeting with Ms. Brenda Moagi, Chairperson of the Board, and Ms. Sesakho Magadla, Chief Executive Officer of South Africa’s National Oil Company.
PetroVietnam Finalizes Timeline and Starting Price for Divestment from Petrosetco (PET)
Implementing the restructuring plan for PVN through 2025, as approved by the Prime Minister in Decision No. 1243/QĐ-TTg in October 2023, PVN will divest its entire capital contribution in Petrosetco.
