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Binh Son Refinery has collected VND 75,000 billion in revenue after 9 months

PostDate: 09/10/2019; 4 CountView
​In the report of the working group of the State Capital Management Committee at the Enterprise, General Director of Binh Son Refinery Joint Stock Company (code BSR) Bui Minh Tien said that Dung Quat Oil Refinery (NMLD) always operates stable operation at 107% of design capacity, production volume of about 5.16 million tons. 

The total consumption of about 5.10 million tons. Turnover is estimated at over VND 75,000 billion, contributing to the State budget is estimated at VND 6,920 billion.

After the IPO from January 17, 2018, BSR transformed into a Joint Stock Company from July 1, 2018. Currently, PVN / BSR is implementing the divestment plan, selling 49% of charter capital.

According to Mr. Le Xuan Huyen - Deputy General Director of PVN and also the Chairman of the BSR Board of Directors, since its inception, the plant has reached over 1 million billion dong of revenue, contributing more than 7 billion USD to the budget; import 862 trips of crude oil, process 68.3 million tons of crude oil and sell 62.1 million tons of products to the market.

In the first period of operation, BSR had to hire more than 200 foreign experts; Up to now, only 20 experts have performed the tasks of operation consultancy and maintenance for the Plant. Vietnamese workers and engineers have mastered and mastered the technology of oil refining.

In the first 9 months, BSR has successfully tested WTI Midland crude oil (USA), successfully tested to increase the capacity of some workshops, contributing to increasing efficiency.

 BSR continues to process and test Bonny Light oil plot in October 2019. In addition, in terms of cost savings, BSR leaders said that the factory operates stably at the optimal capacity, and the costs of non-crude production and business such as catalysts, General production costs are all lower than the plan.

Regarding the project of upgrading and expanding the factory, Mr. Nghiem Duc Duong - BSR Deputy General Director cum Head of Project Management Board said the total project investment is 1,813 million USD.

The structure of investment capital will consist of 30% of equity, the rest will be borrowed. BSR has proposed three capital scenarios which are arranged from foreign and domestic loans.

M.H​


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