Dung Quat Refinery Reaches Milestone of 100 Million Tons of Output
03:56 | 23/04/2025
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On April 21, Dung Quat Oil Refinery reached a significant milestone, surpassing 100 million tons of cumulative product output since it began commercial operations in 2009. This historic achievement marks a resilient journey of growth and highlights the sustainable production capacity of Binh Son Refining and Petrochemical Joint Stock Company (BSR) — the entity responsible for operating the refinery for over 16 years.

Amid ongoing volatility in the global energy market and numerous challenges, this milestone carries great significance. It underscores BSR’s contribution to national energy security and reflects its strong operational performance, having generated total revenue exceeding VND 1.73 quadrillion (approx. USD 72 billion). Of this, more than VND 237 trillion was contributed to the state budget, with profits exceeding VND 52 trillion. These results reaffirm BSR’s leading position in Vietnam’s energy sector and its important role in driving socio-economic development in the Central and Central Highlands regions. They also reflect BSR’s dedication and ambition to grow sustainably alongside Petrovietnam.

In 2024, BSR faced a host of challenges, including sharp fluctuations in crude oil prices, narrowing refining margins, and increased competition in the domestic market due to regional fuel import tax policies within ASEAN. Additionally, the company conducted its fifth full turnaround maintenance of the refinery, resulting in lower production output compared to previous years. Nonetheless, BSR completed its production target 43 days ahead of schedule, delivering over 6.6 million tons of products for the year.

One of the operational highlights of 2024 was the refinery’s energy intensity index (EII) dropping below 100% for the first time, reaching 99.7%. This improvement translated into cost savings of over USD 10.1 million compared to 2023.

100 Million Tons of Output Achieved at Dung Quat Refinery

Since its first commercial batch in 2009, Dung Quat Refinery has produced a cumulative total of 100 million tons of various refined products.

In the area of innovation and scientific advancement, BSR has actively pursued ESG (Environmental – Social – Governance) initiatives and boosted the output of high-value products such as DO, Jet-A1, polypropylene (PP), and Mogas 95/92 gasoline. In March 2025, the company received ISCC CORSIA and ISCC EU certifications from SGS Germany GmbH, enabling it to blend, produce, store, and trade Sustainable Aviation Fuel (SAF). This achievement opens new opportunities for BSR to export petrochemical products to the European Union while ensuring compliance with international greenhouse gas emission reduction standards.
Looking ahead to 2025, BSR continues to navigate a complex global energy landscape shaped by price volatility, exchange rate fluctuations, carbon credits, and emission trading regulations. Despite these headwinds, BSR delivered strong business results in the first quarter of 2025. The company produced over 1.8 million tons of products — 12% above target — and generated more than VND 32.2 trillion in revenue (14% above target), contributing over VND 3.38 trillion to the state budget (6% above target). These achievements provide a solid foundation for BSR to implement effective governance strategies and fulfill its business objectives for the year.

With the milestone of 100 million tons behind it, and bolstered by advancements in investment, technology, innovation, digital transformation, circular economy models, and financial capacity, BSR is poised to enter a new phase of growth. The company remains committed to sustainable development and to playing a vital role in securing Vietnam’s long-term energy future.

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