The Russian oil and gas group Gazprom Neft has signed an agreement to acquire a 49 percent stake in the Binh Son Refining and Petrochemical Company (BSR), which operates the Dung Quat Oil Refinery in the central province of Quang Ngai.
The Russian oil and gas group Gazprom Neft has signed an agreement toacquire a 49 percent stake in the Binh Son Refining and PetrochemicalCompany (BSR), which operates the Dung Quat Oil Refinery in the centralprovince of Quang Ngai.
According to the deal recentlystruck by directors of the two groups, Gazprom Neft will also join aproject upgrading and expanding the Dung Quat refinery. This aims toincrease the plant’s producing capacity to around 10 million tonnes peryear from the current 6.5 million tonnes.
Both sides agreedon the optimal processing technology to use and crude oil sources tochase in order to realise the target.
Since its operation in2009, the Dung Quat Oil Refinery, the first of its kind in Vietnam, hassold 26.7 million tonnes of products, raking in 543 trillion VND (25.5billion USD) in revenue.
In 2013, it produced 6.6 milliontonnes, 17 percent higher than its set target, and gained over 154trillion VND (7.3 billion USD) in revenue and 2.9 trillion VND (138million USD) in profit.
This year, the BSR is striving to earn 113.6 trillion VND (5.3 billion USD) from trading 5.18 million tonnes of products.-VNA
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The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
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