In Q1, the factory turned out more than 1.7 million tons of products and earned over VND 23.05 trillion in revenue. It contributed some VND 2.44 trillion to the state budget, according to the financial report for Q1 of the Binh Son Refining and Petrochemical JSC (BSR) – a member of the State-owned Vietnam Oil and Gas Group the operator of the refinery.

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A view of the Dung Quat oil refinery

The BSR said global crude oil prices fluctuated unpredictably from Q4 of 2018 through February this year. Facing that fact, the company took many drastic and timely measures, including aligning the Dung Quat refinery’s operations with the market, promoting marketing activities, and boosting energy and technology optimisation solutions.

As a result, its profit in Q1 improved considerably compared to the previous quarter.

To achieve this year’s targets, the BSR will continue working to ensure its factory operates safely and stably and at 105 – 107 percent of the designed capacity.

The firm will also press on with restructuring its apparatus while upgrading and expanding the Dung Quat refinery as scheduled.

Source: VNA