Vietnam: Binh Son Refining and Petrochemical (BSR) earns profit after tax of 292 million USD in 2021

At the end of 2021, BSR who operates the Dung Quat Oil Refinery located in Central Vietnam reported a profit after tax of VND 6,673 billion (~292 million USD) vs a loss of VND 2,858 billion billion (~125 million USD) in the same period last year.

Dung Quat Oil Refinery

Vietnam: Biggest Oil Refinery Cuts Down Production, Local Market Suffers Fuel Shortage

Commencing production in 2018, Vietnam’s biggest refinery Nghi Son has suffered an accumulated loss of 61,200 billion VND (~ 2,683 million USD) in its first 3 years of operation. In lack of money to import crude oil, the refinery announced in Jan 2022 to cut down its production capacity to 80% from the peak of 105%.

Nghi Son Oil Refinery and Petrochemical