Binh Son Refining and Petrochemical Joint Stock Company (BSR): From the dream of the first oil refinery to the national energy pillar

1(3).jpg — General Secretary To Lam and Azerbaijani President Ilham Aliyev witnessed the exchange of a Memorandum of Understanding on long-term crude oil supply to Dung Quat Oil Refinery between BSR - a member unit of Petrovietnam and the Azerbaijani Ministry of Economy. Photo: BSR

Marks with the Oil and Gas industry

Currently, Dung Quat Oil Refinery not only ensures 30-35% of domestic petroleum demand, making an important contribution to the economic growth of the Central Highlands, but also plays a key role in implementing the "4 Security" of the Vietnam National Industry and Energy Group (Petrovietnam): Energy security, Economic security, National defense security and Social security....

As the first large-scale petrochemical refinery project in Vietnam, it is also one of the iconic heavy industrial projects located in Quang Ngai - a locality that was facing many difficulties at that time. The establishment and stable operation of Dung Quat Oil Refinery has fundamentally changed the industrial landscape of Quang Ngai province, creating a leap forward in socio-economic development, from employment, budget revenue, infrastructure development to investment attraction in Dung Quat Economic Zone and surrounding areas. This is also a project that paves the way for the formation of the national petrochemical refinery industry, creating the premise for other large projects such as Nghi Son and petrochemical complexes in the future.

In terms of economic role, Dung Quat Oil Refinery has been the "growth locomotive" of Quang Ngai and the entire Central Highlands region for over 16 years. According to cumulative statistics, the Refinery has produced over 103.5 million tons of products, with revenue reaching over 1.8 million billion VND; after-tax profit reaching over 53.8 trillion VND and paying the state budget 244.9 trillion VND. These figures reflect the operational strength of a key national project and are evidence of the outstanding investment efficiency of the oil and gas industry.

2(2).jpg — *BSR – a pillar enterprise of the Vietnam National Industry and Energy Group. Photo: BSR*

Not only contributing to the economy, BSR is also the "energy blood vessel" of the whole country. RON gasoline, diesel, LPG, Jet-A1 jet fuel products from Dung Quat are present in all regions, from highlands to remote islands. During periods of strong fluctuations in the global energy market - from the 2014-2016 oil price crisis, the Covid-19 pandemic to supply chain disruptions, Dung Quat Oil Refinery has maintained continuous production, providing stable supply to the domestic market. This is a key factor in stabilizing the gasoline market, controlling inflation, ensuring national energy security and reducing dependence on imports.

On the journey of construction and development, BSR has also continuously invested in expansion, technology upgrades, production optimization and digital transformation promotion. The Dung Quat Oil Refinery upgrade and expansion project is entering the acceleration phase, with the goal of increasing capacity to 171,000 barrels/day, improving product quality, meeting new environmental standards and increasing competitiveness in the face of rapid changes in the energy market. At the same time, BSR strongly promotes green transformation, developing green production models, using green materials, reducing emissions and optimizing energy consumption. Digital transformation programs help automate processes, improve operational management, open up a sustainable direction, and keep up with the world's clean energy trend.

BSR – sustainable values, trust

In the development strategy of the oil and gas industry, Petrovietnam has established and steadfastly carried out the mission of "5 Security": Energy security, Food security, Economic security, National defense security and Social security. This is a system of fundamental values that affirms the Group's pivotal role in the stability and sustainable development of the country. In that system, BSR holds a particularly important position when directly realizing the 4 strategic pillars including Energy security, Economic security, National defense security and Social security, thereby making a practical contribution to realizing the common mission of Petrovietnam in the Central region and the whole country.

3(3).jpg — *BSR produces and supplies defense fuel, helping to proactively source special fuel for defense and security. Photo: BSR*

First of all, BSR plays a key role in ensuring national energy security. With a current capacity of 6.5 million tons/year and being upgraded to reach 8.5 million tons/year under the Dung Quat Oil Refinery Upgrade and Expansion Project. Dung Quat is oriented to develop into a National Oil Refinery and Energy Center according to Resolution 26-NQ/TW, further affirming BSR's role in creating a solid foundation for energy security, while expanding the ability to receive and process many different types of raw materials - from traditional crude oil to LNG, gas and condensate from the Blue Whale field, as well as developing new energy sources, renewable energy and clean fuels.

At the same time, BSR makes a significant contribution to economic security through its budget contribution, job creation and development of supporting industries. Every year, BSR contributes 12,000 - 18,000 billion VND to the budget, is the main source of revenue for Quang Ngai province and is among the group of large-contributing enterprises of the Central Government. The stable operation of Dung Quat Oil Refinery creates a strong spillover effect, promoting growth in Dung Quat Economic Zone, attracting a series of energy, petrochemical, supporting industry, mechanical engineering and technical service projects. In the coming period, when the expansion and upgrading project is completed and green energy - petrochemical projects are implemented, BSR's role in the economy of the Central Coast region and the national economy will increase strongly, in line with the orientation of energy transition and green growth.

4(1).jpg — *BSR's relief team went directly to the still flooded areas in Xuan Loc commune, Dak Lak province to give gifts to people affected by natural disasters and floods. Photo: BSR*

While BSR's role as a pillar of energy security has been clearly affirmed, another less known but extremely important mission is the production of special fuels for national defense. For many years, Vietnam had to import military fuel from abroad. However, over the years, geopolitical fluctuations have caused the supply to be interrupted. Faced with this challenge, BSR's team of engineers and experts have devoted themselves to research, testing and successfully produced special fuels such as Jet A-1K (jet fuel for military aircraft), DO L-62 (military diesel), A-80 gasoline, etc. This success marks a major turning point, helping Vietnam to proactively source special fuels for national defense and security. This is not only a proud result of science and technology but also a symbol of the spirit of serving the Fatherland.

Finally, Social Security is a value that runs through every step of BSR's development. The company has implemented many community support programs such as flood and storm prevention, health and education support, building solidarity houses, developing infrastructure, caring for the poor, etc. BSR spends tens of billions of dong on social security work every year, demonstrating the responsibility of a large enterprise to the community where it operates.

*The construction of Dung Quat Oil Refinery helps Vietnam successfully solve the problem of energy self-sufficiency for the country. Photo: BSR*

That sense of responsibility is even more evident in the context of the Central region having suffered consecutive serious natural disasters in recent times. Speaking at a recent working session, Chairman of the Board of Directors of Petrovietnam Le Manh Hung emphasized: "The most practical action for BSR to share with the people of the whole country is to continue to promote production and business activities, strive to achieve and exceed production and business targets in 2025, thereby contributing to compensating for the damages that the people and the country are facing due to floods in localities in recent times." This is not only a message but also a strategic requirement, when the value is stable, trust will be given because in the context of the budget of many Central provinces declining due to floods, stable financial contributions from BSR become an important resource for the Central Government to have more room to support localities to recover from natural disasters.

This message clearly affirms that BSR's mission is not only to be the leading enterprise of Petrovietnam, the driving force for economic growth in the Central coastal region, but also a pillar contributing to macroeconomic stability, ensuring energy security, maintaining national defense and security, and at the same time fulfilling its noble obligations to the community and the nation.

Celebrating the 64th anniversary of the Vietnam Oil and Gas Industry's Traditional Day (November 27, 1961 - November 27, 2025), with the aspiration to reach far and a sustainable development strategy, BSR will continue to accompany Petrovietnam and the country on the path of integration, becoming a solid pillar contributing to ensuring energy security and national defense security.

Source: https://daibieunhandan.vn/cong-ty-co-phan-loc-hoa-dau-binh-son-bsr-tu-giac-mo-ve-mot-nha-may-loc-dau-dau-tien-den-tru-cot-nang-luong-quoc-gia-10397354.html