BSR - NSRP: Joining forces for sustainable development, maintaining national energy security

On the morning of June 6, in Quang Ngai, Binh Son Refining and Petrochemical Joint Stock Company ( BSR ) welcomed a delegation from Nghi Son Refinery and Petrochemical Company Limited (NSRP) to work on the development orientation and management of the petrochemical refining sector in Vietnam, related to the market, products and long-term growth strategy.

The working session between BSR and NSRP shared many experiences and opened up many cooperation opportunities between the two sides in developing the petrochemical industry and ensuring national energy security.

Attending the meeting, on the side of NSRP, there were Mr. Kazutaka Yamato - General Director; Mr. Pham Van Chat - Deputy General Director; and representatives of functional departments of NSRP. On the side of BSR, there were Mr. Bui Ngoc Duong - Chairman of the Board of Directors; Mr. Nguyen Viet Thang - General Director; and members of the Board of Directors, Board of Directors, Factory Board of Directors and representatives of functional departments of BSR.

Speaking at the meeting, Mr. Kazutaka Yamato - General Director of NSRP shared: “Since signing the Memorandum of Understanding two years ago, we have carried out many effective exchange and cooperation activities. I am particularly impressed with the production of sustainable aviation fuel (SAF) that BSR has been carrying out. I believe that NSRP can learn a lot from BSR in the context of the petrochemical industry facing many challenges such as price fluctuations, energy transition and increasing environmental requirements. We always prioritize safety, stable operation and strategic development, and at the same time, we wish to share and learn valuable experiences from BSR”.

*Mr. Kazutaka Yamato - General Director of NSRP shared about the impressive results that BSR has achieved in recent times, especially the successful production of Sustainable Aviation Fuel SAF.*

Sharing at the meeting between the two sides, Mr. Bui Ngoc Duong - Chairman of BSR's Board of Directors said: "BSR is honored to welcome the delegation of NSRP. The two enterprises have had a strong cooperation process over the past years. The signing of the strategic Memorandum of Understanding is an important stepping stone to further expand the depth and effectiveness of cooperation. I believe that, with the spirit of goodwill and strong commitment from both sides, we will continue to maintain regular, practical exchanges with increasingly high practical value".

At the meeting, BSR representatives presented and shared information on contents such as corporate governance model, human resource strategy, crude oil purchasing strategy, trade, tax financial management, maintenance activities, security, safety and technology.

*Mr. Bui Ngoc Duong - Chairman of BSR Board of Directors said that positive results have been achieved in the strategic cooperation between BSR and NSRP in recent times.*

In particular, BSR also shared the orientation of Science and Technology development until 2030. The unit has been implementing a strategy for technology development, innovation and digital transformation, forming an Innovation Center. BSR aims to develop comprehensively to become a modern petrochemical refining enterprise, based on the foundation of science and technology, innovation and digital transformation.

At the same time, BSR also shared about the Dung Quat NMLD NCMR project in the coming time. The goal of the project is to increase the plant's capacity from 148,000 barrels/day to 171,000 barrels/day and meet EURO V standards. At the same time, the NCMR of the plant will help to be flexible in choosing crude oil, diversifying products, contributing to optimizing costs and profits for BSR.

*Mr. Nguyen Viet Thang - General Director of BSR discussed with NSRP representative about the areas of cooperation between the two units in the coming time.*

BSR also shared its human resource development strategy. BSR has been focusing on developing human resources by assessing capacity; job positions; organizing training and development; encouraging the spirit of learning; assigning tasks according to capacity; developing high-quality human resources and through the application of corporate culture, core values of the Company...

In the coordination and cooperation between BSR and NSRP, BSR believes that the two sides can cooperate and develop together in gathering teams with in-depth knowledge in important areas such as operation, maintenance, inspection and testing. At the same time, providing comprehensive training services in the fields of operation, maintenance and testing. In addition, BSR and NSRP can cooperate in key areas such as scientific research, digital transformation, green transformation and operational technologies...

*The continued development cooperation between BSR and NSRP is expected to continue to be a driving force in the production and business activities of the two units.*

Mr. Pham Van Chat - Deputy General Director of NSRP commented: "Today's meeting is a vivid demonstration of the close cooperation relationship and common vision on quality, innovation and sustainable development. We appreciate the open spirit and in-depth sharing from BSR and hope that the two sides will continue to promote professional exchange programs, more substantive and effective cooperation in the coming time".

Sharing at the meeting, Mr. Nguyen Viet Thang - General Director of BSR emphasized: "We acknowledge and congratulate NSRP on its continuous efforts in maintaining the stable, safe and effective operation of Nghi Son Refinery. Today's meeting not only demonstrates the connection between two key units in the energy industry, but also opens up opportunities to promote innovation, learn from each other and jointly elevate the Vietnamese petrochemical industry in the context of global energy integration and transition".

At the end of the exchange between BSR and NSRP, the two sides agreed on the principle of strengthening cooperation in the spirit of "Speaking with One Voice" to comprehensively improve production and business activities, aiming at efficiency and optimizing safety assurance, financial management, and human resource management. At the same time, cooperate in supply chain management, input material sources, product structure, trading traditional products/new products, green products, sustainable products. At the same time, the two sides continue to strengthen cooperation in the field of providing high-quality human resources, sharing materials, chemicals, catalysts, O&M services, training, etc.

In the near future, the two sides will establish specialized teams to discuss in depth and propose specific implementation plans to effectively realize the cooperation agreement between the two sides. This will be the basis for both companies to aim to achieve and exceed production and business targets in 2025 and the following years. In particular, aiming to contribute to sustainable development and ensure national energy security.

Source: https://bsr.com.vn/web/bsr/-/bsr-nsrp-hop-luc-phat-trien-ben-vung-giu-vung-an-ninh-nang-luong-quoc-gia