The above information was stated by Mr. Bui Ngoc Duong - Director of Binh Son Refinery and Petrochemical Joint Stock Company (BSR - the Dung Quat oil refinery) - at the 15th anniversary of establishing the plant operator on 9/5.

Mr. Duong said that last year alone, BSR produced and sold more than 7 million tons of products, revenue reached nearly 169,000 billion VND, paid over 19,000 billion VND to the state budget, and profit after tax was about 14,700 billion VND, the highest since the beginning of the year. Dung Quat oil refinery put into operation.

This number contributed to 56% of the budget of Quang Ngai province last year, putting the area in the top two of the five key economic regions in the Central region, the 18th out of 63 provinces, and the top 10 with the highest number of domestic revenue of over 20,000 billion VND.

Last year, the total revenue of 19 state-owned corporations and corporations reached nearly 1.6 million billion dongs, contributing more than 191,780 billion dongs to the state budget, which means, on average, one of these enterprises paid about 10,000 billion dongs to the state budget.

Dung Quat Oil Refinery is Vietnam's first oil refinery, built 26 years ago to ensure energy security and create a driving force for development in Quang Ngai and Central provinces.

The plant has a designed capacity of 6.5 million tons per year, using crude oil as the primary raw material from the Bach Ho field. In the first stage of construction, Vietnam cooperates with Russia. In 2003, Vietross joint venture (Vietnam Russia Refinery Joint Venture Company) was dissolved; Vietnam Oil and Gas Group set up Dung Quat Oil Refinery Investment Project Management Board to manage and implement the project according to regulations of self-investment in Vietnam.

In 2005, the Refinery Project Management Board signed a contract with Tecnip International Contractors Consortium to build the refinery. The project has been in trial operation since 2008. In February 2009, the factory released its first commercial product line. After 15 years, the company has processed more than 94 million tons of crude oil and sold more than 86 million tons of products. Currently, BSR has more than 1,500 highly qualified personnel.

This company manufactures traditional products such as RON A92/95 gasoline, automotive diesel oil, propylene gas and polypropylene resins, liquefied petroleum gas (LPG), kerosene, Jet A1 jet fuel, and fuel oil (FO). In addition, BSR has researched and produced many new product types, including Jet A-1K jet fuel and L-62 diesel used for strategic military equipment of the Ministry of Defense.

Mr. Dang Van Minh, Chairman of the Quang Ngai People's Committee, assessed Dung Quat Economic Zone as the growth nucleus of the province with the heart of Dung Quat Oil Refinery. "This factory has brought Quang Ngai from a poor province whose budget depends on the support of the Central Government to become a province with a large contribution to the budget," Mr. Minh said.

Sharing with Tuoi Tre newspaper, Mr. Minh said that "in Dung Quat Economic Zone, Dung Quat Oil Refinery is a "giant magnet" to attract investment, including many petroleum industry projects, heavy industry, services."

Deputy General Director of Petroleum Corporation Nguyen Manh Hung said that in the coming time, BSR needs to research to optimize the process, diversify products, and adapt to meet the removal of tariff barriers when the Trade Agreements are signed. Free trade (FTA) will take effect in 2024. At the same time, the company needs to successfully implement the Dung Quat Oil Refinery Upgrade and Expansion Project.

Currently, Vietnam has two oil refineries, Dung Quat, and Nghi Son, operating with a total capacity of 14 million tons of petroleum per year, meeting about 70% of domestic petroleum demand, to which Dung Quat Oil Refinery contributes about 35%.