The Binh Son Refining and Petrochemical Co Ltd (BSR) has announced that it met its 2016 output target of 5.8 million tonnes 52 days ahead of schedule.

The company attributed the achievement to safe and stable operations at optimum capacity of between 105 and 107 per cent at the Dung Quat oil refinery.

In addition, this year’s weather conditions have been relatively favourable, and therefore import of crude oil and product sales were not affected.

The third maintenance overhaul of the Dung Quat oil refinery will take place in the middle of next year. This is expected to last for 52 days.

From now until the end of the year, the company will produce more than a million tons of various products to reach a total output of 6.91 million tonnes, about 100,000 tonnes higher than last year, a BSR statement said.

Revenue from the million tonnes is estimated at approximately VND12 trillion (US$538.1 million).

The Dung Quat Refinery, which has been operating for six years, has contributed VND133 trillion ($6 billion) to the State Budget, earned revenues of VND785 trillion ($35 billion) and sold about 43 million tonnes of products, meeting 40 per cent of the country’s petrol demand.

Currently, BSR is focusing on upgrading and expanding the refinery to increase its capacity from 6.5 million tonnes to 8.5 million tonnes per year. The upgrade is expected to be completed by 2022. — VNS