BSR and Hoa Phat Dung Quat strengthen comprehensive strategic cooperation

BSR launches and delivers first commercial batch of sustainable aviation fuel (SAF)

The session was co-chaired by Mr. Bui Ngoc Duong – Chairman of the Board of Directors of BSR and Mr. Mai Van Ha – Director of Hoa Phat Dung Quat, with the participation of senior leaders and professional expertise division from both sides.

Representatives of BSR and Hoa Phat Dung Quat visit the model of Dung Quat Steel Integrated Complex

Speaking at the session, Mr. Bui Ngoc Duong emphasized: “BSR is a core unit in Petrovietnam’s refining and petrochemical sector, with a crude oil processing capacity of around 7 million tons per year and a modern technical-technological system. We are always ready to connect, share, and accompany major domestic enterprises, especially partners with a sustainable development orientation and a spirit of innovation such as Hoa Phat. The cooperation between BSR and Hoa Phat Dung Quat must not stop at the commercial exchange but move toward forming integrated value chains in industry, energy, and logistics.”

Chairman of the BSR Board of Directors, Mr. Bui Ngoc Duong, delivered remarks at the working session

At the session, based on the existing capacities of each side, potential areas of cooperation were clearly defined, demonstrating high practicality and readiness for implementation starting in 2025.

BSR and Hoa Phat Dung Quat agreed to strengthen cooperation in LPG supply, with HPDQ valuing BSR’s stable, long-term delivery capacity and aiming to establish a close coordination mechanism to ensure uninterrupted production.

Both sides identified technical services - including maintenance, repair, and mechanical fabrication - as key areas for collaboration. BSR’s advanced maintenance systems and experienced engineering team are valuable resources, especially during major overhauls or urgent technical interventions.

BSR and Hoa Phat Dung Quat agree to strengthen cooperation in LPG supply, technical services, maintenance, and equipment provision

The companies will also enhance cooperation in supplying materials, laboratory equipment, and fire safety systems. As large-scale industrial complexes, both have a high demand for specialized equipment and will actively share technical data and inventory lists to optimize resources, reduce storage costs, and improve asset utilization.

Hoa Phat Group, as Vietnam’s leading steel producer, committed to supporting BSR with high-quality, customizable steel products that meet strict technical standards in oil and gas projects, including the Dung Quat Refinery Upgrade and Expansion. Joint efforts will include testing, quality assessment, and design collaboration.

The meeting also outlined a shared long-term vision: exploring joint investment in a centralized industrial-energy hub in Central Vietnam, integrating refining, metallurgy, renewable energy, and specialized logistics.

Both parties expressed interest in carbon emission reduction technologies, particularly carbon capture, storage, and utilization (CCUS), aligning with their respective decarbonization strategies.

In R&D and innovation, the two companies will work to optimize production, develop new products, promote training and expert exchange, and establish common technical standards to ensure consistency across operations, maintenance, and investment activities.

Leaders of both sides take a commemorative photo, demonstrating their commitment to realizing concrete cooperation initiatives starting from 2025

Speaking at the session, Mr. Mai Van Ha – Director of Hoa Phat Dung Quat, expressed confidence in the prospects of cooperation between the two units: “We highly appreciate BSR’s technical capability and professionalism. The proposed cooperation items today are all very practical and highly feasible. Hoa Phat Dung Quat is committed to accompanying BSR in realizing the cooperation programs of the two Groups (Petrovietnam and Hoa Phat), jointly building a modern, mutually supportive industrial-energy ecosystem.”

The two sides agreed to establish a joint task force to detail each cooperation item and develop an implementation roadmap for each phase, ensuring effectiveness and alignment with the overall development strategies of Petrovietnam and Hoa Phat Group.

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