BSR Refinery and Petrochemical: Flexibly transforming risks into opportunities

On the afternoon of July 24, 2026, the Vietnam Oil and Gas Refining Corporation held a conference to review its business performance for the first six months of the year and to plan tasks for the last six months of 2026.

Proactively implement operational solutions and optimize costs.

In the first half of 2026, the global oil market experienced significant fluctuations. BSR established a task force, directly led by the General Director, to develop and continuously update 15 operational scenarios based on short-, medium-, and long-term levels of volatility.

BSR proactively optimizes its crude oil mix, ensuring sufficient raw materials for maximum operating capacity, adjusting its product portfolio according to market signals, controlling inventory, cash flow, and price risks; while also taking advantage of opportunities to increase production of Jet A-1, diesel, and other high-value economic products, and especially expanding its processing operations outside the refinery, bringing the system-wide equivalent capacity to a record high of 124%.

As a result, in the first six months of 2026, consolidated revenue is estimated at VND 100,922 billion, 1.45 times higher than in the first six months of 2025; tax contributions to the state budget amounted to VND 5,871 billion. This is an important foundation for BSR to aim for double-digit revenue growth in 2026.

In particular, during this period, the Dung Quat Refinery operated stably with an average converted capacity of approximately 124% of its designed capacity. Production reached over 4.05 million tons and consumption over 4.03 million tons, both exceeding the set targets. The prices of refined products and the processing profit margin remained high, contributing approximately VND 26,765 billion, equivalent to 85.6% of the revenue growth compared to the same period in 2025.

Simultaneously, BSR effectively promoted management practices, proactively optimizing operating capacity, product structure, crude oil import scheduling, product sales, and inventory management according to market developments. Flexible operational solutions and cost optimization continued to contribute approximately VND 1,261 billion in revenue.

BSR General Director Nguyen Viet Thang reported at the Conference.

At the conference summarizing business performance in the first six months of 2026 and outlining tasks for the last six months of 2026, BSR General Director Nguyen Viet Thang shared: “Throughout that challenging period, more than fifteen hundred cadres, engineers, and workers shared a common will, a common goal, and a sense of responsibility. Each shift was strictly maintained, each management decision was made at the right time, and each ton of product was shipped on schedule, contributing to keeping the country's energy flow uninterrupted.”

These results were achieved thanks to the timely leadership, guidance, and support of Petrovietnam's leaders, along with close coordination among units throughout the entire oil and gas value chain – from exploration, extraction, transportation to processing and distribution. It is this interconnected strength that has created the superior adaptability of the entire Petrovietnam ecosystem to the fluctuations of the international market,” emphasized BSR General Director Nguyen Viet Thang.

Laying the foundation for sustainable growth.

To maintain growth momentum in the remaining months of the year, BSR continues to implement a comprehensive set of key solutions such as perfecting mechanisms and policies; optimizing production and business operations; accelerating the progress of the Dung Quat Refinery Upgrade and Expansion Project; and developing new products such as E10 gasoline, biofuels, and petrochemical products.

Simultaneously, the company is accelerating digital transformation, applying AI, Digital Twin, and 3D printing technology in operations, maintenance, and management to improve production efficiency, increase competitiveness, and move towards sustainable development.

Petrovietnam Deputy General Director Le Xuan Huyen delivered a speech at the conference.

Speaking at the conference, Deputy General Director of Petrovietnam Le Xuan Huyen congratulated and commended BSR for completing and exceeding all production and business targets in the first six months of 2026. He highly appreciated BSR's role in ensuring the production and supply of petroleum products, contributing to maintaining national energy security in the context of the crude oil supply chain being affected by conflicts in the Middle East. He also acknowledged BSR's positive results in researching and developing new, green products to meet market demands.

In the last six months of the year, BSR will continue to operate the refinery safely, stably, and at optimal capacity, contributing to Petrovietnam's double-digit growth target; accelerate the implementation of the Dung Quat Refinery Upgrade and Expansion Project after signing the EPC contract; strengthen scientific research, expand into the petrochemical and sustainable aviation fuel (SAF) fields, and participate more deeply in the supply chain with Nghi Son Refinery and Petrochemical.

Mr. Bui Ngoc Duong - Chairman of the Board of Directors of BSR, expressed his gratitude for the close attention and guidance from the leaders of Petrovietnam.

BSR is committed to continuing to promote the spirit of solidarity and innovation, operating the Dung Quat Refinery safely, stably, and efficiently, making a positive contribution to Petrovietnam's growth targets and ensuring national energy security.

Petrovietnam