Vietnam’s largest refining and petrochemical firm, Binh Son Refining and Petrochemical JSC (BSR), sets its sight on generating more than 70.66 trillion VND (3.06 billion USD) in revenue and around 864 billion VND in post-tax profit this year, according to a plan adopted by its Board of Directors on February 1.
Hanoi (VNA) – Vietnam’s largest refining andpetrochemical firm, Binh Son Refining and Petrochemical JSC (BSR), sets itssight on generating more than 70.66 trillion VND (3.06 billion USD) in revenueand around 864 billion VND in post-tax profit this year, according to a planadopted by its Board of Directors on February 1.
The plan has been developed based on the crude oil referenceprice of 45 USD per barrel and reference exchange rate of 23,500 VND per USD.
The BSR also aims to turn out close to 6.5 million tonnes ofproducts and contributed approximately 7.7 trillion VND to the State budget.
To deal with the COVID-19 resurgence and the fluctuatingcrude oil market, the corporation will pursue a strategy for long-term crudeoil purchase, lasting at least 3 – 5 years, expected to meet 50 – 80 percent ofits input.
It also plans to accelerate restructuring, completedivestment, and speed up the expansion of Dung Quat Refinery in2021.
Last year, the company’s output reached 5.93 million tonnes,7 percent higher than the yearly plan, despite impact of the COVID-19 and nose-divingoil prices. It earned roughly 57.9 trillion VND in revenue and contributed over6.24 trillion VND to the State budget./.
Forty of the largest companies by market capitalisation posted a 15 percent annual decline in total pre-tax profit, which fell to 162.8 trillion VND (7.02 billion USD) in January-September.
The State-owned Vietnam Oil and Gas Group (PetroVietnam) has made it into the top three largest firms in Vietnam this year, the tenth year in a row, according to the latest ranking co-released by Vietnam Report (VNR) and e-newspaper VietNamNet.
The Binh Son Refining and Petrochemical Joint Stock Company (BSR) posted over 1.25 trillion VND (54.14 million USD) in after-tax profit in the fourth quarter of 2020, up 1.08 trillion VND over the previous quarter, reflecting its better business performance.
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