At the meeting, Mr. Nguyen Viet Thang - President & CEO of BSR, reported on BSR’s business results for the first eight months of 2025. BSR produced 5.2 million tons of various products, generating total revenue of VND 93,104 billion and contributing VND 9,589 billion to the State budget. Notably, profit before tax exceeded the management plan by 142%, reflecting operational efficiency and adaptability to market fluctuations. A highlight was revenue from new products, reaching VND 344 billion - 12 times higher than the same period in 2024. International trading activities also grew positively, contributing VND 1,256 billion, up 16% year-on-year.

However, Mr. Thang also candidly acknowledged existing challenges: declining crude oil prices and crack margins, Dung Quat Refinery operating above designed capacity - increasing reliability and integrity risks - as well as external factors such as the upcoming storm season, exchange rate fluctuations, global financial market volatility, and infrastructure limitations in blending operations.

With the goal of accelerating performance and surpassing the 2021 - 2025 five-year plan, BSR has set its 2025 targets: producing 7.6 million tons of products, achieving consolidated revenue of about VND 140 trillion, contributing VND 13,936 billion to the State budget, and continuing to exceed profit-after-tax plans. These are considered decisive targets to create momentum for the next development stage.

Looking ahead to 2026, BSR aims to operate Dung Quat Refinery safely, stably, and at optimal capacity, while boosting research and development of high value-added products. The company will maximize production and blending to supply E10 RON95 bio-gasoline in line with the Government’s roadmap. International business activities will also be expanded - not only in self-produced products but also in trading commodities - with an expected revenue of VND 7,369 billion. New products such as E10 RON95 and E100 bio-gasoline are expected to double revenue compared to 2025. BSR also plans to broaden external service provision, expand market reach, and enhance overall competitiveness.

For the 2026 - 2030 plan, BSR targets growth in output, revenue, State budget contribution, and profit before tax compared to the previous period. The company will accelerate the Dung Quat Refinery Upgrade and Expansion Project, finalize its proposal to become the Vietnam National Refining and Petrochemical Corporation, and advance development in green energy and new materials.

Unlocking Potential for the New Stage

Speaking at the session, Mr. Le Xuan Huyen - Vice President of Petrovietnam, acknowledged and praised BSR’s remarkable achievements. He emphasized that, despite ongoing market volatility, BSR’s strong business performance demonstrates its professional management, proactive innovation, and sound strategic vision.

He highly valued BSR’s initiatives in developing new products and expanding international business. However, he also noted that the remaining four months of 2025 still carry many risks, requiring BSR to implement more flexible and effective management solutions. According to him, 2025 is a decisive year - the final year of the 2021 - 2025 plan - and will lay a solid foundation for the 2026–2030 period.

Mr. Huyen stressed that ensuring absolute safety in operating Dung Quat Refinery is a top priority. At the same time, BSR must continue to review and supplement supportive solutions, such as developing new products, strengthening trading activities, and leveraging the advantages of E10 RON95 bio-gasoline to turn challenges into opportunities amid global energy transition. He emphasized that the rollout of new products is not only a business task but also a responsibility to the community, contributing to sustainable development and environmental protection.

In parallel, BSR should quickly finalize and submit its 2026 - 2030 plan for approval, ensuring alignment with the resolutions of BSR’s Party Congress (2026 - 2030 term) and Petrovietnam’s long-term development orientations. The company also needs to push forward the Dung Quat Refinery Upgrade and Expansion Project, revive stalled projects, invest in new scientific and technological applications, proactively address financial mechanism bottlenecks, and optimize governance models to enhance operational efficiency. Petrovietnam particularly requested BSR to review its financial resources and growth drivers to ensure long-term, sustainable development.

Concluding the session, Vice President of Petrovietnam Le Xuan Huyen affirmed that the Group expects BSR not only to fulfill but to exceed its 2025 and 2026 - 2030 targets, thereby affirming its role as a pioneering enterprise in the national energy ecosystem.

BSR