BSR Mid-Year Business Review and Second Half 2026 Strategy Implementation
On the afternoon of July 24, 2026, Vietnam Oil and Gas Group BSR (Binh Son Refinery and Petrochemical Company Limited) organized a conference to review production and business activities for the first half of the year and implement tasks for the second half of 2026. The event brought together all leadership, key officials, and representatives from member units across the entire BSR system.
Background and Significance of the Conference
The conference was held against the backdrop of continuing complex and unpredictable developments in the global energy market. This provided an opportunity for BSR's leadership to comprehensively evaluate the results achieved in the first half of the year, thereby formulating appropriate orientations and solutions to achieve the set goals for the entire year 2026.
In his opening remarks, Mr. Tran Minh Nguyen - Chairman of BSR's Member Council emphasized: "The first half of 2026 has witnessed significant challenges for the global and Vietnamese oil and refining industry. However, thanks to the efforts of all officers and employees, BSR has achieved many commendable results. This conference is an opportunity for us to review achievements, overcome difficulties, and clearly define the direction for the second half of the year."
First Half 2026 Business Results
According to the report presented at the conference, the first half of 2026 saw BSR achieve impressive results despite market challenges. Total crude oil processing volume reached 5.2 million tons, achieving 104% of the plan and increasing by 5% compared to the same period in 2025.
In terms of products, gasoline output reached 1.3 million tons, achieving 102% of the plan; diesel output reached 1.8 million tons, achieving 105% of the plan; kerosene output reached 180,000 tons, achieving 103% of the plan; and lubricating oil output reached 120,000 tons, achieving 100% of the plan.
| Indicator | Unit | 6-month Plan | Actual | Completion Rate |
|---|---|---|---|---|
| Crude oil processing volume | million tons | 5.0 | 5.2 | 104% |
| Gasoline output | million tons | 1.27 | 1.3 | 102% |
| Diesel output | million tons | 1.71 | 1.8 | 105% |
| Kerosene output | million tons | 0.17 | 0.18 | 103% |
| Lubricating oil output | million tons | 0.12 | 0.12 | 100% |
In terms of finance, revenue for the first half of the year reached 75,000 billion VND, achieving 102% of the plan and increasing by 8% compared to the same period. Pre-tax profit reached 8,500 billion VND, achieving 101% of the plan and increasing by 6% compared to the same period in 2025.
Challenges and Difficulties in the First Half
Despite achieving many positive results, BSR still faced numerous challenges in the first half of the year:
- Strong fluctuations in global crude oil prices, creating significant pressure on input costs
- A decrease in domestic fuel consumption in certain segments due to the shift to clean energy
- Pressure from competing fuel import suppliers
- Challenges in ensuring national energy security and safety
- Increasing requirements for environmental protection and sustainable development
Key Tasks and Solutions for the Second Half of 2026
At the conference, BSR's leadership outlined key tasks and solutions for the second half of 2026:
1. Production and Business Objectives
- Complete 100% of the annual plan for output and revenue
- Focus on maximizing cost savings and optimizing production processes
- Strengthen research and development of high-value-added products
- Enhance cooperation with domestic and international partners
2. Specific Solutions
- Technology Optimization: Continue implementing technology improvement projects to enhance the efficiency of plant operations
- Market Development: Boost exports of advantageous products, especially to new markets in Southeast Asia and the Middle East
- Sustainable Development: Increase the use of renewable raw materials and reduce carbon emissions
- Capacity Enhancement: Invest in training human resources and improving the professional skills of the team of officers and employees
- Occupational Safety: Strengthen work safety, fire prevention, explosion prevention, and environmental protection
3. Financial Plan
To ensure the completion of the annual plan, BSR has set targets for the second half of the year to achieve 73,000 billion VND in revenue and 8,200 billion VND in pre-tax profit. The company will focus on strict cost management, especially for raw materials and operating expenses.
Leadership Directives
Concluding the conference, Mr. Nguyen Van Thi - General Director of BSR gave decisive directives: "The second half of the year is the decisive period for us to complete and exceed the annual plan. Each unit, each individual needs to clearly define their responsibilities and focus on the key tasks set forth. I believe that with the spirit of unity, creativity, and high determination, BSR will successfully complete the 2026 goals."
He also emphasized the importance of ensuring absolute safety in production and business, while highlighting BSR's commitment to contributing to national energy security and sustainable development.
Conclusion
BSR's conference to review production and business activities for the first half of the year and implement tasks for the second half of 2026 has affirmed the company's solid position in Vietnam's oil and refining industry. With the results achieved and clear directions for the remaining period of the year, BSR is on track to excellently complete the set goals, making an important contribution to the development of the energy sector and the national economy.
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