Binh Son Refining and Petrochemical Co Ltd (BSR) contributed more than VND11 trillion to the State budget in 2018, becoming PetroVietnam''s largest State budget contributor.
Binh Son Refining and Petrochemical Co Ltd (BSR) will hold its first shareholders’ meeting on June 21 in Quang Ngai City after five months since its initial public offering (IPO) on January 17 this year.
Binh Son Refining and Petrochemical Co Ltd (BSR), operator of Dung Quat Refinery, has targeted total revenue of nearly VND78.4 trillion (US$3.44 billion), State budget contribution of some VND8.33 trillion and profit-after-tax of more than VND3.47 trillion in 2018.
Binh Son Refining and Petrochemical Co Ltd (BSR), the operator of Dung Quat Refinery, will conduct Viet Nam’s biggest-ever initial public offering (IPO) on January 17 next year, hoping to garner about VND4 trillion (US$157.4 million) for State coffers.
Binh Son Refining and Petrochemical Co Ltd (BSR) on Friday signed crude oil supply agreements with two trading companies in Singapore – Glencore Singapore and Socar Trading SA – to supply the Dung Quat refinery for the 2018-25 period.
Experts have been baffled by losses of Binh Son Refining and
Petrochemical Co Ltd''s (BSR), which operates the Dung Quat Oil Refinery,
losses as the project received cost and subsidy advantages, said Masami
Kojima from the World Bank.
Binh Son Refining and Petrochemical Co Ltd (BSR) is willing to sell up
to 49 per cent of its capital to a foreign strategic investor during its
equitisation, which is reportedly appealing to major global energy
companies.
The Government has allowed Binh Son Refining and Petrochemical Co Ltd
(BSR) to make its own price mechanism after the company has repeatedly
called for support to improve the competitiveness of its products.
Binh Son Refining and Petrochemical Co (BSR), which operates and manages
Dung Quat Oil Refinery, has asked the Ministry of Finance for
permission to calculate the petrol selling price themselves.
The Joint Stock Commercial Bank for Foreign Trade of Viet Nam
(Vietcombank) signed a new agreement on Saturday to improve its
partnership with the Binh Son Refining and Petrochemical Co Ltd (BSR).
The tax reduction for Dung Quat Oil Refinery is necessary and
reasonable to ensure equal principles between local and imported
products, Do Hoang Anh Tuan, the deputy minister of finance, said.
The Dung Quat Oil Refinery needs up to US$2 billion to raise its annual
processing capacity from its current 6.5 million tonnes to 10 million
tonnes in the future.
The operation of the Dung Quat Oil Refinery has transformed Quang Ngai
Province from a poverty-stricken area into a key economic hub in the
central region.