Binh Son refinery reports high profit in six months
The Binh Son Refining and Petrochemical Company (BSR) estimated a profit of 2.947 trillion VND (129.66 million USD) in the first half of 2018, meeting 84.7 percent of its target for the whole year.
BSR General Director Tran Ngoc Nguyen addresses the press conference held on June 13 (Photo: VNA)
Hanoi (VNA) – The Binh Son Refining andPetrochemical Company (BSR) estimated a profit of 2.947 trillion VND (129.66million USD) in the first half of 2018, meeting 84.7 percent of its target forthe whole year.
BSR is a subsidiary of the Vietnam Oil and Gas Group(PetroVietnam) and the operator of the 3 billion USD Dung Quat Oil Refinery inthe central province of Quang Ngai, the first oil refinery in the country.
With the achievement, which accounted for 30 percent of PetroVietnam’stotal profit during the period, the company is the second biggest earner in thegroup.
According to BSR General Director Tran Ngoc Nguyen, thanksto smooth operation, the productivity in the reviewed period was estimated tohit 3.56 million tonnes of the company’s products, exceeding by 11.4 percent ofthe target set for the first half of the year.
BSR also sold 3.6 million tonnes of its products, surpassingby 11.5 percent of its target set for the reviewed period.
The outstanding performance was partly attributable to thecompany’s optimisation of management work and efficiency.
Nguyen said in the remaining half of the year, BSR set the goalof producing and distributing more than 3.17 million tonnes of products,earning a pre-tax profit of 1.754 trillion VND (77.176 million USD).-VNA
The Binh Son Refining and Petrochemical Company (BSR) reported pre-tax profits of 1.3 trillion VND (57.1 million USD) in the first quarter of 2018, up 46 percent compared to the quarterly target.
The State-owned Vietnam Oil and Gas Group (PetroVietnam or PVN) has drafted a plan for a comprehensive restructuring until 2025, under which it will continue with large-scale divestment from all of its member corporations and companies.
The Investigation Police Agency under the Ministry of Public Security has prosecuted and put in temporary detention two former leaders of Binh Son Refining and Petrochemical Co., Ltd (BSR) on the charge of “abusing position and power to appropriate assets”.
The Dung Quat Oil Refinery operated by Binh Son Refining and Petrochemical Joint Stock Company (BSR) has been in top ten eco-friendly factories in Vietnam for the second consecutive year.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
BSR General Director Tran Ngoc Nguyen addresses the press conference held on June 13 (Photo: VNA) 
