Despite facing many challenges, BSR remains steadfast and accelerates. In the first 6 months of 2025, BSR produced more than 3.84 million tons of products, achieved revenue of VND 69,365 billion, paid VND 7,411 billion to the budget and after-tax profit far exceeded the set plan. This achievement is the crystallization of collective efforts, timely decisions, and the ability to respond flexibly to market fluctuations to accelerate development.
Core business operations solutions create success
In the current situation, BSR has identified stable operations and improved forecasting capabilities as top priorities. The company has promptly developed operational scenarios based on oil price fluctuations and proactively adjusted production plans for each phase. Thanks to flexible operations, Dung Quat Refinery has always maintained high capacity and is currently operating at 124%.
In recent times, BSR has promoted scientific research, innovation and digital transformation. The company has established an Innovation Center and focused on maximizing the capacity of each workshop. Specifically, the CDU workshop has increased its available capacity from 114% to 118% and is in the process of being evaluated to further increase it to 120%. The RFCC workshop has achieved a marginal capacity of 110% thanks to the addition of intermediate materials such as VGO and LSFO. The KTU workshop has been operated at 140% to take advantage of the higher selling price of Jet-A1 aviation gasoline compared to DO to increase revenue. These technical and operational adjustments have contributed to improving production efficiency, reducing costs and increasing profit margins in a volatile market context.
Not only focusing on production, BSR also demonstrates its acumen in business operations and supply chain management. The company closely coordinates with units in the Petrovietnam ecosystem such as PVOIL, PV GAS, PVNDP to optimize chain linkages - from input materials to product consumption. Thanks to that, product sales activities are maintained stably, inventories are reasonably controlled, reducing storage pressure and contributing significantly to stabilizing cash flow during difficult times.
In addition, another breakthrough solution of BSR is to promote scientific research, innovation and application of digital technology in operations. In early June 2025, BSR successfully launched and sold sustainable aviation fuel (SAF) products - this is not only a commercial step but also affirms the capacity of research, development of new products and the ability to keep up with global clean energy trends.
At the same time, BSR has also deployed the Digital Factory model, initially simulating the RFCC workshop operations using Petro-SIM software and will expand to CCR and NHT workshops. This is an important platform to improve operational efficiency, control data and make real-time operational decisions.
Flexible response, proactive breakthrough
In the context of global crude oil prices constantly fluctuating due to geopolitical conflicts and supply chain disruptions, BSR has not chosen a passive or reactive approach. Instead, the Company has proactively developed various scenarios, based on in-depth analysis of oil price trends, supply-demand developments, and impacts from international geopolitical factors. Each scenario is linked to specific production, raw material import, and product consumption plans, helping BSR maintain a proactive stance in the face of any unexpected market variables.
A bright spot in the response strategy is the diversification of input materials. BSR has proactively imported and successfully processed more than 20 types of crude oil from the US, West Africa, South America, etc. At the same time, the Company negotiated to increase supply, tested many new chemicals and catalysts to save raw materials, increase processing efficiency and reduce emissions. Simultaneous operation of two sulfur recovery workshops SRU1 and SRU2 helps BSR recover about 13 tons/day, while expanding the ability to process high-sulfur oils - which have lower costs, contributing to reducing input while still ensuring the quality of output products.
Planning oil price scenarios not only helps BSR adjust its business strategy in a timely manner, but is also an effective tool to control risks in the supply chain. Along with that, BSR constantly optimizes the efficiency of raw material use, typically blending 100% of mixed C4 into gasoline, helping to increase product value by 20 to 30 USD per barrel compared to blending into LPG. The company also successfully produced two new solvent lines, White Spirit and MHO (Mix Hydrocarbon Oil), significantly expanding its deep-processed product portfolio. At the same time, the completion of preparations for the production of granular sulfur with a cluster of granulation workshops expected to be put into trial operation from the end of June 2025, marks a new step in increasing added value from by-products.
BSR has also completed and issued E5/E10 base gasoline for both Mogas 92 and Mogas 95, ready for mass production of bio-fuel lines. Along with that, BOPP plastic output has been increased to about 3,000 tons/month, and the supply of defense fuel lines such as Jet A1-K, DO-L62 and A83 gasoline continues to be promoted, contributing to affirming BSR's role in the strategy of ensuring national energy security.
Based on flexible business strategies, BSR also implements many cost control measures in a systematic and methodical manner. Each regular expense is carefully reviewed, resources are prioritized for essential investment items with high profitability in a short time.
A highlight in BSR's management thinking is the ability to turn challenges into opportunities. While many businesses are concerned about oil price fluctuations, BSR sees room for profit if exploited at the right time. Crack spread - the difference between crude oil and product prices in the Asian market - although narrowed at the beginning of the year, is on the way to recovery during the peak season after May. Sensitive to market signals, BSR has promptly restructured its production and business plans to take advantage of price advantages in international and domestic transactions.
In the long term, BSR is gradually establishing a modern management system based on a comprehensive digital platform. The company focuses on perfecting the decision-making mechanism based on real-time data, while enhancing internal capacity through in-depth training, building a team of technical and commercial experts capable of analyzing the market and operating flexibly. Improving the quality of management is identified by BSR as a key factor, both strengthening internal strength and maintaining its pivotal role in the Vietnamese energy industry.
BSR General Director Nguyen Viet Thang shared: “The spirit of solidarity throughout generations of leaders is a solid foundation that creates BSR's identity. On that foundation, we build a flexible management system, effectively responding to all market situations. Innovation, scientific research, and digital transformation are promoted with many initiatives applied and of high practical value. Investment work from the beginning of the year has been given top priority with many breakthrough solutions promoted. Leaders at all levels in the company are always exemplary, pioneering, together with a team of enthusiastic, dynamic, and highly united staff, creating breakthroughs in investment, diversifying products, and improving operational efficiency.”
With the spirit of initiative, innovation and solidarity, all BSR employees are making continuous efforts to overcome challenges, maintain stability, accelerate development and realize the goal of becoming a pioneering petrochemical refinery enterprise in the region - both internationally competitive and playing a pivotal role in the national energy economy.
According to Hieu Linh (Petrotimes)
Source: https://bsr.com.vn/web/bsr/-/khi-thi-truong-bien-dong-co-hoi-de-bsr-tang-toc
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