AsemconnectVietnam - Binh Son Refining and Petrochemical Joint Stock Company (BSR) - the operator of Dung Quat Oil Refinery - has just announced its preliminary business results for the first 8 months of 2025, showing a strong recovery after a volatile period in the oil and gas industry.

Accordingly, consolidated revenue for the first 8 months reached VND93,100 billion, while pre-tax profit exceeded the annual plan by 142%, reflecting effective operating capacity and recovery in domestic consumption demand.
According to estimates, after-tax profit attributable to the parent company's shareholders reached about VND1,800 billion, equivalent to 61% of the forecast for the whole year of 2025 by a number of analysis organizations, thereby matching expectations set at the beginning of the year.
The biggest driving force for BSR's breakthrough in the first 8 months of the year came from consumption output. The company sold 5.2 million tons of products, a figure that reflects the recovery of domestic gasoline demand as well as the ability to maintain stable capacity of the plant.
On that basis, BSR set a production target of 7.6 million tons in 2025, an increase of 13.6% compared to the original plan. This figure is almost identical to the forecast from analysts, when the output is estimated to reach 99% of the whole year's forecast.
Although the profit picture for the first 8 months is very positive, BSR still faces significant challenges. Crude oil prices on the world market tend to decrease, while crack profit margins - a decisive factor in refining profits - are narrowing. This could affect profits in the last months of the year, especially when input prices and product selling prices are not completely balanced.
By 2026, BSR aims to stably operate Dung Quat Oil Refinery after maintenance and upgrading, ensuring optimal capacity. In addition, the company is committed to participating in the Government's sustainable energy development roadmap by maximizing the supply of E10 RON95 gasoline.
In the fourth quarter, the factory expansion project will have many new developments. BSR is also preparing to increase capital to nearly VND50,000 billion and plans to change its name to Vietnam Refining and Petrochemical Corporation.
Many securities companies assess that BSR's prospects in the medium term are positive if the company continues to control costs, maintain high output and take advantage of scale. Despite being affected by the cyclical impact of oil prices, as the largest oil refinery in the country, BSR is expected to continue to play an important role in meeting domestic energy demand and creating stable profits for shareholders.
N.Nga
Source: VITIC/Tinnhanhchungkhoan