PetroVietnam plans IPO for petrochemical unit
The Vietnam Oil and Gas Group, or PetroVietnam (PVN), will equitise the Binh Son Refining and Petrochemical Limited Company (BSR).
According to a statement released in early November, PetroVietnam will announce the corporate value of BSR on December 31 this year.
BSR has been making preparations for the equitisation, including looking for partners to buy shares and searching for consultancy firms to estimate the value of the company's assets.
BSR is managing the Dung Quat Oil Refinery, the first refinery of Vietnam. The company's main activities are producing and selling petroleum products, biofuels and polypropylene plastic beads.
The company has a charter capital of VND35 trillion (US$1.56 billion) and 1,500 employees. In the first 10 months of this year, BSR produced 5.64 million tonnes of products in various categories, achieving 96% of the company's target this year.
BSR sold 5.52 million tonnes of products, equivalent to 94% of this year's target. The company contributed more than VND18.3 trillion (US$815.9 million) to the state budget.
BSR also signed a contract on August 28 with the United Kingdom-based Amec Foster Wheeler Energy Limited for the preparation of a master design for the Dung Quat Oil Refinery expansion project in the central Quang Ngai Province.
The contract work, worth US$25.6 million, was launched at the beginning of August and will continue till November 2016.
BSR has been making preparations for the equitisation, including looking for partners to buy shares and searching for consultancy firms to estimate the value of the company's assets.
BSR is managing the Dung Quat Oil Refinery, the first refinery of Vietnam. The company's main activities are producing and selling petroleum products, biofuels and polypropylene plastic beads.
The company has a charter capital of VND35 trillion (US$1.56 billion) and 1,500 employees. In the first 10 months of this year, BSR produced 5.64 million tonnes of products in various categories, achieving 96% of the company's target this year.
BSR sold 5.52 million tonnes of products, equivalent to 94% of this year's target. The company contributed more than VND18.3 trillion (US$815.9 million) to the state budget.
BSR also signed a contract on August 28 with the United Kingdom-based Amec Foster Wheeler Energy Limited for the preparation of a master design for the Dung Quat Oil Refinery expansion project in the central Quang Ngai Province.
The contract work, worth US$25.6 million, was launched at the beginning of August and will continue till November 2016.