Photo for illustration
By the end of 2017, BSR’s budget collection hit nearly USD6.5 billion, a two-fold increase against total investment of Dung Quat Oil Refinery Plant (about USD3 billion).
The company’s production and business efficiency in 2017 were shown through targets such as: pre-tax profit at VND8.144 trillion (equivalent to more than USD350 million), after-tax profit/ROE posting 23%, much higher than 14% of last year, and after-tax profit/ROS reaching 9.5%, much higher than 6.1% of last year.
Security, safety, environment and fire prevention are also great concerns with more than 15 million hours of safe working hours. BRS’s Environmental Health Management System integrated ISO standard 14001:2015 on environmental management system, OHSAS standards 18001:2007 on safety management system, and OSHA standards 3132 on technology safety management system and other standards.
This year, it updated 95 incident response scenarios, conducted 82 exercises on urgent incident response at workshops and trained the fire fighting force on emergency response skills.
For optimizing production, operation and scientific research; BRS successfully applied 163 innovative solutions and estimated to bring USD138 million. In 2017, the company focused on carrying out 11 solutions for energy optimization with economic efficiency worth about USD3.2 million.
This year, BSR continues to implementing 16 energy optimization opportunities with 11 operation solutions and 5 conversion solutions. As of March, 12 out of 16 solutions were carried out and 4 are being assessed for their feasibility before being realized.
Apart from state budget collection, BSR has implemented social welfare in Quang Ngai and rural and remote areas nationwide with an expense of VND260 billion since 2010, in which VND208.6 billion were spent on Quang Ngai.
The company focused on investing in building medical stations and schools, financing medical equipment and educational equipment, island programs and natural disaster recovery programs.
BRS’s social welfare programs were implemented in accordance with the intended purpose and meaning. Localities coordinated with BSR to carry out the programs on schedule, ensuring quality and effectiveness.
On May 31st, 2017, the Ministry of Industry and Trade issued Decision 1938/QD-BCT approving BSR’s value for privatization, including: real value is over VND72.879 trillion, an VND14.854 trillion compared to the book value and real value of state capital is over VND44.934 trillion, an increase of VND13.929 trillion.
On January 17th, 2018, the operator successfully conducted its initial public offering (IPO) with nearly 242 million shares sold at average price of VND23.043 each. On February 22nd, 2018, the Hanoi Stock Exchange had Decision 76/QD-SGDCKHN, approving share transaction registration of BSR on the UPCoM system since March 1st, 2018.
Currently, together with the IPO process and UPCoM listing, BSR conducted procedures to offer 49% of the shares to strategic investors, including both domestic and foreign investors.
The investment policy of the Dung Quat Oil Refinery Plant was adopted at Announcement 457/TB-VPCP dated December 16th, 2014; Document 2579/TTg-KTN dated December 16th, 2014, and was approved in Decision 9016/QD-DKVN dated December 22nd, 2014.
The project targets at raising the processing capacity from 148,000 barrels a day (equivalent to 6.5 million tons a year) to 192,000 barrels a day (about 8.5 million tons a year); increasing the flexibility of selecting crude oil, ensuring stable and long-term crude oil supply in order to improve the effectiveness of its operation./.
USD1 = VND22,765 in accordance with the exchange rate of Vietcombank on April 6th