Dung Quat refinery in Quang Ngai Province. BSR's business plan has been developed based on the crude oil reference price of $45 per barrel and reference exchange rate of VND23,500 per USD. — VNA/VNS Photo

Binh Son Refining and Petrochemical JSC (BSR)'s total revenue is hoped to exceed VND70.66 trillion (US$3.06 billion) with net profit of about VND864 billion this year, according to a plan adopted by its Board of Directors on Monday.

The plan has been developed based on the crude oil reference price of $45 per barrel and the reference exchange rate of VND23,500 per US dollar.

Viet Nam’s largest refining and petrochemical firm also aims to turn out close to 6.5 million tonnes of products and contribute approximately VND7.7 trillion to the State budget.

To deal with the COVID-19 resurgence and the fluctuating crude oil market, the corporation will pursue a strategy for long-term crude oil purchases, lasting at least 3-5 years, expected to meet 50 – 80 per cent of its input needs.

It also plans to accelerate restructuring, complete divestment, and speed up the expansion of Dung Quat Refinery in 2021.

Last year, the company’s output reached 5.93 million tonnes, 7 per cent higher than the yearly plan, despite the impact of the pandemic and nose-diving oil prices. It earned roughly VND57.9 trillion in revenue and contributed more than VND6.24 trillion to the State budget. — VNS