BSR General Director Tran Ngoc Nguyen delivers his speech about BSR’s development strategy after five-year privatization. (Photo: CPV)
In his speech about the development strategy of BSR after five years of privatization, General Director of BSR Tran Ngoc Nguyen stressed that the company set targets of safe, stable, effective and sustainable production from 2018 to 2022.
In addition, it will focus on completing the project of upgrading and expanding Dung Quat Oil Refinery Plant by 2020 with oil refinery products as the core, and products must meet standards and regulations about the environment, he added.
Doctor Nguyen Anh Duc, Head of the Vietnam Petroleum Institute recommended that petroleum units should update and disseminate trends, forecasts and technological information, policies; propose investment policies for the industry to the Government; and find the right partners for sharing experiences in integrated oil refining and petrochemical in order to help the industry develop stronger in the near future.
The seminar also received many contribution ideas and experiences of leading experts in the industry in order to help BSR shape its development in the near future.
While Mr. Ngo Thuong San, Chairman of Vietnam Oil and Gas Association, evaluated petrochemical as an important field in the development strategy of the industry. Petrochemical is also the foundation of the industrial production processes and provides essential products for the Vietnamese economy such as petroleum, fertilizers, chemicals, plastics, and fiber.
“The role of petrochemical is very important, therefore, we need thorough calculations to promote development of this industry, contributing to the country's development,” he added.
The Dung Quat Oil Refinery Plant
On January 17th, 2018, BSR successfully organized the first Initial Public Offering (IPO) at the Ho Chi Minh city Stock Exchange with all 241,556,969 shares (equivalent to 7.79% of chartered capital) auctioned, earning VND5.414 trillion, 60% higher than the expected selling price (about VND3 trillion).
On February 22nd, 2018, the Hanoi Securities Exchange issued Decision 76/QD-SGDHN agreeing the trade registration of share of BSR on the UPCoM sytem. At the same day, HNX announced the first trading day of the company was March 1st, 2018 with the reference price on the floor of VND22,400 a share, corresponding to the initial listing value of VND5.417 trillion.
On June 21st, 2018, the company will organize the first general meeting of shareholders which approved some important contents: organization and operation regulations, management regulation, development plan for the 2018-2022 period and production plan in 2018, statement for the number of members of Board of Directors, salary plan, and selection of auditors in the financial year 2018.
From July 1st, 2018, BSR will officially change into a Joint Stock Company./.