BSR ensures safe and stable operation of Dung Quat refinery, maximizing petroleum supply for the economy

On the morning of March 28, 2026, at the Dung Quat Refinery (Quang Ngai), a delegation led by Mr. Le Manh Hung, Acting Minister of Industry and Trade, held a working session with BSR, a subsidiary of Petrovietnam. The meeting aimed to review production and business performance and assess energy security assurance amid volatile global petroleum markets.

The delegation from the Ministry of Industry and Trade, led by Acting Minister Le Manh Hung, holds a working session with BSR

The delegation included representatives from departments and agencies under the Ministry of Industry and Trade. From Petrovietnam, Mr. Le Xuan Huyen, Deputy Director in charge of the executive board of Petrovietnam, attended the session. Representing BSR were Mr. Bui Ngoc Duong, Chairman of the Board of Directors; Mr. Nguyen Viet Thang, President & CEO; along with members of the Board of Management and heads of functional divisions.

In the first quarter of 2026, Dung Quat Refinery operated at high capacity.

Reporting at the meeting, President & CEO Nguyen Viet Thang highlighted the implementation of synchronized solutions to stabilize and enhance production efficiency amid strong market fluctuations driven by geopolitical tensions in Iran. During the quarter, BSR operated the refinery safely and stably at an equivalent capacity of 123.5%. Total production reached 2.03 million tons (105% of the management plan), while sales volume reached 2.02 million tons (113% of plan). Key financial indicators, including revenue, profit before and after tax, and state budget contributions, all exceeded targets.

The delegation from the Ministry of Industry and Trade visits the Integrated Operations Center at Dung Quat Refinery

Acting Minister of Industry and Trade Le Manh Hung inspects the production operations at Dung Quat Refinery

Regarding production, feedstock preparation has been ensured to support optimal refinery operations. BSR has developed multiple scenarios and secured sufficient crude oil and intermediate feedstocks to maintain operations at 123.5% capacity. The company has also strengthened cooperation within the supply chain, including toll processing at Phu My's Condensate Processing Plant and procurement of high-RON components (E100, reformate, additives) for blending, thereby maximizing gasoline output supplied to the market (approximately 38.5 thousand m³), especially during periods of supply tightness.

BSR President & CEO Nguyen Viet Thang stated that Dung Quat Refinery is currently operating safely and stably at 123.5% capacity. The company is implementing synchronized solutions and plans to maximize supply for the market

In addition, the Dung Quat Biofuel Plant has been producing and supplying E100 ethanol for blending into E5 and E10 gasoline. Upgrades to storage tanks and related systems for E10 production and blending have been completed and are ready for operation.

In the second quarter of 2026, BSR plans to continue operating the refinery safely, stably, and continuously at an equivalent capacity of 123%, corresponding to an output of over 2 million tons. With this growth momentum and stable operations, BSR targets a total output of 8.3 million tons in 2026 - the highest level since the refinery’s commissioning.

BSR has also adjusted its sales policies, including extending payment terms and reducing taxes on aviation fuel, contributing to market price stabilization. The company has invested in an additional truck loading rack (Rack No.3) to enhance truck loading capacity, which is expected to be commissioned soon. Meanwhile, the 9th crude oil storage tank is under accelerated construction and is scheduled for completion in May 2026, increasing crude storage capacity.

BSR Chairman Bui Ngoc Duong presents recommendations to the Ministry of Industry and Trade delegation

For feedstock supply in May and June, BSR has secured approximately 2.3 million barrels of domestic crude oil, including 0.6 million barrels for May and 1.6 million barrels for June. The company also plans to procure 20–30 thousand tons/month of intermediate feedstock and about 10 thousand tons/month of high-RON components to increase capacity and boost Mogas 95 output.

Regarding biofuels, in addition to supply from the Dung Quat Biofuel Plant, BSR plans to procure approximately 8,000 tons of E100 in May and June for blending into E3 and E10 gasoline.

The Ministry of Industry and Trade delegation inspects E100 bioethanol production at the Dung Quat Biofuel Plant

For imported crude oil, BSR is actively working with Russian partners on potential procurement of ESPO, Sokol, and Novy Port crude grades, while continuing cooperation with traditional partners in Africa, the Americas, and Southeast Asia to diversify supply sources.

BSR continuously monitors market developments to develop procurement plans for the second half of 2026, ensuring fulfillment of production targets assigned by Petrovietnam and contributing to national energy security.

Alongside its achievements, BSR also highlighted existing challenges and proposed recommendations to enhance competitiveness and further increase petroleum supply to the market, reaffirming its role as a key pillar in ensuring national energy security.

Ensuring Petroleum Supply for the Economy

Speaking at the meeting, Mr. Le Xuan Huyen emphasized that following geopolitical tensions, Petrovietnam has implemented comprehensive solutions to ensure stable operations of domestic refineries and secure feedstock supply. In Q1 2026, the Group exceeded all production and business targets, including petroleum supply. Petrovietnam highly appreciates BSR’s adaptability and its capability to operate Dung Quat Refinery continuously at high capacity amid highly unpredictable market conditions.

Mr. Le Xuan Huyen, Deputy Director in charge of the executive board of Petrovietnam, delivers remarks at the working session

Concluding the meeting, Acting Minister Le Manh Hung emphasized that energy security must be ensured based on three pillars: sufficient supply, resilience against disruptions during crises, and maintaining accessibility for people and businesses. He commended BSR’s efforts in maintaining stable production and high-capacity operations in Q1 2026, contributing significantly to ensuring adequate petroleum supply for the economy.

Acting Minister of Industry and Trade Le Manh Hung highly commended BSR for its production and business performance as well as its role in ensuring petroleum supply to the market. He also emphasized the need to build on these achievements, maintain safe, stable, and efficient operations at Dung Quat Refinery, and continue supplying petroleum products to the domestic market

Going forward, the Acting Minister requested BSR to continue maintaining safe, stable, and continuous operations at high capacity, while ensuring absolute safety and proactively implementing solutions to secure sustainable crude oil supply, meeting socio-economic development requirements amid ongoing uncertainties.

BSR