VOV.VN - Dung Quat Refinery is operating at high capacity and implementing comprehensive risk management measures to ensure stable production and support domestic petroleum supply amid global energy market volatility, said Binh Son Refining and Petrochemical JSC (BSR).

The Petrovietnam Exploration Production Corporation (PVEP), the Petrovietnam Oil Corporation (PVOIL), and the Binh Son Refining and Petrochemical JSC (BSR) have signed a contract to supply crude oil from the Dai Hung field to the Dung Quat refinery.

The Dung Quat Oil Refinery Plant in the central province of Quang Ngai, operated by the Binh Son Refining and Petrochemical Company (BSR), processed more than 100 million tonnes of crude oil and materials after 15 years of operations.

The central province of Quang Ngai has called for investment and cooperation from US businesses in energy, oil refining and industrial environment treatment technology, and to join the second phase of the Dung Quat Refinery upgrading and expansion project.

Despite oil price declines, the Vietnam Oil and Gas Group (Petrovietnam) posted VND18.2 trillion (US$775.5 million) in consolidated pre-tax profit in the first four months of 2023, surging 77% from its target for the period and equivalent to 52% of this year’s plan.

Surging international crude oil price on improving demand has helped many oil and gas companies record big profits in the first quarter of this year, after losing in 2020.

Central provinces must adjust their socio-economic development goals and strategies to minimise the adverse effects brought by the COVID-19 pandemic and natural disasters in 2020, officials have said.

The Dung Quat refinery has processed Russian Sokol crude oil on trial basis to diversify resources.