BSR is determined to achieve business production goals by 2026

BSR Chairman Bui Ngoc Duong chaired the meeting to implement the 2026 business production plan

Attending the meeting were BSR CEO Nguyen Viet Thang, members of the Board, the Executive Board, the Management Board of Dung Quat Refinery, along with leaders of specialised departments and affiliated units of BSR.

Speaking at the meeting, CEO Nguyen Viet Thang stated that, given the unpredictable fluctuations in the oil and gas market and the global economic and geopolitical context, BSR identifies 2026 as a challenging year. It requires the company to implement two key solution groups: traditional solutions and breakthrough solutions, with a determination to excel in completing the business production plan.

In the traditional solutions group, BSR focuses on: Efficiently managing market fluctuations; Ensuring Dung Quat Refinery operates safely, stably, and continuously at high capacity; Optimizing costs, product structure, and cash flow; Restoring operations of Dung Quat Biofuel Plant, increasing the supply of E100 for blending E5, E10 biofuels; Expanding the provision of technical and operational services externally and developing business activities from subsidiaries.

Concurrently, the breakthrough solutions group aims to increase the average conversion capacity to 123–125% of the design capacity, thereby potentially boosting financial efficiency by 6,472 to 8,763 billion VND, depending on oil price scenarios. BSR continues to promote innovation, research, and development of new products, targeting a revenue of about 57 trillion VND. The company also intensifies its expansion of sales and international trade, expecting an additional contribution of 8,197 billion VND. Additionally, BSR explores increasing production outside the plant and developing external service offerings, aiming to generate an additional 500-3,000 billion VND in 2026.

BSR CEO Nguyen Viet Thang implements key solution groups for 2026

The BSR CEO urged specialised departments and affiliated units to accelerate their efforts from the beginning of the year, closely coordinating production, business, investment, science and technology, and innovation to realise the set plan objectives.

During the plan implementation, the role of specialised departments and affiliated units is identified as a key factor. The operations and maintenance divisions focus on optimising operational efficiency, ensuring safety, enhancing equipment reliability, and preparing well for the sixth comprehensive maintenance of Dung Quất Refinery. The business, market, and raw material divisions proactively build supply plans and expand domestic and international consumption markets. The investment division focuses on reviewing the project portfolio, implementing items to enhance flexibility in blending, expanding the SPM oil import port infrastructure, and upgrading the intermediate product storage system. The science and technology and innovation division intensifies research and development of new products, such as sustainable marine fuels and biodiesel, aiming for double-digit growth,” emphasised BSR CEO.

Representatives of BSR's specialised departments speak and contribute ideas at the meeting

In his directive speech at the meeting, BSR Chairman Bùi Ngọc Dương emphasised that completing the 2026 business production plan is highly challenging amidst many market uncertainties. The Chairman requested departments and units to build detailed monthly plans, specifying goals, actions, and costs, while evaluating KPIs for each division and department. BSR needs to continue focusing on energy optimisation, cost reduction, minimising losses, enhancing equipment reliability, and operating the plant at higher capacity while ensuring absolute safety.

BSR Chairman Bui Ngoc Duong inspects operations at the Central Control Room

Mr. Bui Ngoc Duong also noted that BSR needs to prepare well for the sixth comprehensive maintenance, focus on developing new business models, boosting international business, reviewing investment portfolios, enhancing financial risk management, and continuing corporate restructuring. Digital transformation efforts should be elevated, gradually positioning BSR as a digital data hub in the refining and petrochemical sector. Alongside technical and management solutions, BSR should enhance and promote corporate culture, managed by culture, to foster innovative thinking, creative action, and sustainable development, while further improving communication, information risk management, and spreading positive energy throughout the company.

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