The Binh Son Refining and Petrochemical JSC (BSR) has reported that it earned 906 billion VND (39.3 million USD) in profit in the first half of this year.
The Vietnam Oil and Gas Group (PetroVietnam) reported on December 10 that it has exploited over 11.31 million tonnes of crude oil, fulfilling this year’s target.
Foreign petrol distributors have set foot in the Vietnamese market, but they will have to confront Petrolimex, the giant which holds 50% of market share, and other rivals.
Analysts believe the petroleum distribution market will see a breakthrough after the conclusion of IPOs for PV Oil and Binh Son Refinery (BSR).
Binh Son Refining and Petrochemical Company Limited (BSR) plans to float 242 million shares, equivalent to 7.79% of its chartered capital, in an initial public offering (IPO) scheduled for January 17 on the Ho Chi Minh Stock Exchange (HOSE).
The Vietnam National Petroleum Group (Petrolimex) signed an agreement with the Binh Son Refinery and Petrochemical Co Ltd (BSR) on August 10 on cooperation in boosting sales of petrol products produced by Dung Quat Refinery.
Binh Son Refinery (BSR), the operator of Vietnam’s only oil refinery, was valued at VND72.88 trillion (US$3.2 billion) at the end of 2015, with the state holding a 60 percent stake, according to the Ministry of Industry and Trade.