Binh Son refinery reports high profit in six months
The Binh Son Refining and Petrochemical Company (BSR) estimated a profit of VND2.947 trillion (US$129.66 million) in the first half of 2018, meeting 84.7% of its target for the whole year.
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BSR is a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam) and the operator of the US$3 billion Dung Quat Oil Refinery in the central province of Quang Ngai, the first oil refinery in the country.
With the achievement, which accounted for 30% of PetroVietnam’s total profit during the period, the company is the second biggest earner in the group.
According to BSR General Director Tran Ngoc Nguyen, thanks to smooth operation, the productivity in the reviewed period was estimated to hit 3.56 million tonnes of the company’s products, exceeding by 11.4% of the target set for the first half of the year.
BSR also sold 3.6 million tonnes of its products, surpassing by 11.5% of its target set for the reviewed period.
The outstanding performance was partly attributable to the company’s optimisation of management work and efficiency.
Nguyen said in the remaining half of the year, BSR set the goal of producing and distributing more than 3.17 million tonnes of products, earning a pre-tax profit of VND1.754 trillion (US$77.176 million).
