Dung Quat, the flame of oil refining burns brightly forever.

Mr. Nguyen Van Hoi, Secretary of the Party Committee and Chairman of the Board of Directors of BSR , presented gifts to express gratitude to the people in the Dung Quat Refinery project area.

BSR is transforming the entire sun-drenched, sandy region.

When Prime Minister Vo Van Kiet visited the scorching white sand dunes of Van Tuong (eastern Binh Son district, Quang Ngai province) to survey the area for a refinery and deep-water port, the officials and people there were still very surprised and didn't understand what oil refining was; it was completely unfamiliar to them. Yet, this land of sunshine, thorny bushes, white sand, and murmuring waves underwent a spectacular "major transformation" after the autumn of 1994.

Back then, the location for the Dung Quat Refinery had been determined, but construction didn't begin until about a decade later. That was at the end of 2005, when Vietnam's first refinery commenced construction, initially located in Dung Quat, Quang Ngai province, covering an area of ​​over 800 hectares. The contractor for this project was Technip, a world- renowned oil and gas company, acting as the EPC general contractor, with a completion time of 44 months. It was a turbulent period, but once it passed, Quang Ngai became more well-known nationwide thanks to the Dung Quat Refinery.

The Dung Quat Refinery can be considered the "heart" of the Dung Quat Economic Zone. Following this refinery, a series of other large projects have been implemented here: Doosan Vina, the Hoa Phat Dung Quat Iron and Steel Complex, the VSIP industrial park, etc. It can be said that the Dung Quat Refinery is a "magnet" attracting investment to Dung Quat.

Called the "heart" of the Binh Son Refinery and Petrochemical Joint Stock Company (BSR), formerly Binh Son Refinery and Petrochemical One-Member Limited Company, the plant has become increasingly stable and developed as it has been in operation, making a significant contribution to the budget, creating jobs and stable income for thousands of people.

Dung Quat Refinery is a "magnet" attracting investment to Dung Quat.

After 15 years of formation and development (May 9, 2008 - May 9, 2023), BSR has processed over 90 million tons of crude oil, produced and sold over 86 million tons of products to the market, achieved after-tax profits of over 44,000 billion VND, contributed over 209,000 billion VND to the State budget; and created jobs for 1,522 employees. In the first six months of 2023, BSR produced 3.56 million tons of products, generated revenue of over 69,000 billion VND, and contributed over 7,900 billion VND to the State budget.

BSR's contribution to Quang Ngai province is immense. For example, in 2010, when the plant was officially commissioned and began commercial operation, Quang Ngai province collected 15,553 billion VND in revenue, with BSR contributing 14,382 billion VND (accounting for 92.5% of the province's total revenue). By 2022, BSR contributed over 19,000 billion VND to Quang Ngai province's revenue, accounting for 54% of the province's total budget, making Quang Ngai province one of the leading provinces in terms of revenue collection nationwide.

The presence of BSR has led to a remarkable increase in the industrial production value of Quang Ngai province: In 1989, when the province was separated, the industrial production value of Quang Ngai province was only 601 billion VND, but by 2022 it had reached 129,000 billion VND (an increase of more than 200 times). The per capita GDP reached 97.67 million VND, ranking second among the 14 provinces in the North Central and Central Coastal regions, and second among the 5 provinces in the Central key economic region. Furthermore, the Dung Quat Refinery has accelerated the growth rate and economic restructuring of Quang Ngai province, and the Dung Quat Economic Zone is one of the most successful economic zones in the country.

Dung Quat Refinery can operate at high capacity, up to 112-114%.

Establishing a petrochemical refining center.

According to Mr. Nguyen Van Hoi, Secretary of the Party Committee and Chairman of the Board of Directors of BSR, BSR is maintaining its leading position in Vietnam's petrochemical industry. Its annual production meets over 30% of the country's fuel needs, contributing to socio-economic development and ensuring national energy security.

In the near future, BSR, with its vision to become a leading regional enterprise with an international position in the energy and petrochemical refining sector, will have the mission of providing high-quality refined petroleum products, contributing to ensuring national energy security and driving the economic development of the Central and Central Highlands regions.

Currently, the Dung Quat Refinery can operate at a high capacity of up to 112-114%, with successful testing at 135%. Some production lines and workshops have been utilized to their maximum reserve capacity of up to 115%, 120%, and 130%. Particularly in 2022 and early 2023, the Dung Quat Refinery increased its operating capacity to 112%, contributing to reducing pressure on Vietnam's petroleum supply. This also provides the conditions and foundation for the Dung Quat Refinery to become the core of the National Petrochemical Refining Center in Central Vietnam.

BSR's crude oil tanker

In early 2023, during a visit to BSR, Prime Minister Pham Minh Chinh highly appreciated and commended the BSR team for their contribution to the success of the Vietnam National Oil and Gas Group and the entire country. "We are proud that this is Vietnam's first refinery built, operated, and managed entirely by Vietnamese people, contributing to building an independent, self-reliant, and comprehensively reformed economy," Prime Minister Pham Minh Chinh emphasized.

Regarding the plan to develop a National Refinery and Energy Center in the Dung Quat Economic Zone, the Prime Minister also assessed that the formation of this center in Dung Quat is consistent with Resolution No. 26 of the Politburo, necessary for the development of the oil and gas industry and ensuring national energy security. Currently, the Dung Quat Refinery upgrade and expansion project is being implemented by BSR, and after operation, its capacity will increase to 171,000 barrels/day, equivalent to 7.6 million tons/year.

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