Equitization of Binh Son Single Member Refinery Company Limited

Equitization of Binh Son Single Member Refinery Company Limited - 

On November 06, 2015, the Board of the Directors of Vietnam Oil and Gas Group (PVN) has issued Decision No. 2665 / QD-DKVN on equitization of Binh Son  Single Member Refinery Company Limited (BSR).

Dung Quat Oil Refinery Plant will be equitized.

The BSR Company is equitized under the guidelines of the Government manifested in Decree No. 59/2011 / ND-CP and No. 189/2013 / ND-CP. Accordingly, the BSR Company will be equitized with the enterprise value defining time of 31/12/ 2015.

As a company of managing and operating Dung Quat Oil Refinery Plant, in last years BSR carried out the high effective production and business of petroleum products as Propylene, polypropylene, liquefied gas, gasoline RON 92 and 95, gasoline E5 / E10, jet fuel JET A1, kerosene, DO, FO and sulfur.

The main business sectors of the company are: production, wholesale and retail trade of petroleum and intermediate products, bio-fuels, Polypropylene plastic beads. Besides, the company also provides with the services as maintenance, repair, technical consultancy, training and supply of human resources for petroleum refinery industry ...

BSR Company manages and operates Dung Quat Oil Refinery Plant in safety and stability at the designed capacity. Especially, the Plant has achieved a record of an over 630 day continuous safe, stable and effective operation. With this achievement, BSR has been received the "Operational Excellence" Certificate from the prestigious over the world Technological Copyright Suppliers and Reinsurance Companies. Up to November, 2015, BSR has reached a 5 million safe working hour milestone.

Since operation beginning of the refinery plant, BSR has produced 36.283 million tons of petroleum products with a net turnover of over VND 710 trillion and paying to the state budget VND120.3 trillion. Besides, since the end of 2008 so far, BSR has imported 514 ship trip of crude oil with a total amount of over 40 million tons.

In the first 10 months of 2015, BSR produced more than 5.64 million tons of petroleum products, accounting 116% ten month plan and over 96% year plan; sold 5.52 million tons of products, accounting 113% ten month plan and 94% year plan and paid to state budged over VND 18.3 trillion, accounting 136% ten month plan and 114% year plan.

The charter capital of the BSR at 31/12/2014 was VND 35,000 billion, the number of employees - over 1,500 and the Company is one of six large-scale enterprises in Vietnam.

BSR has initiatively implemented the preparation for equitization strategy of the Company as completing the project for equitization to submit to PVN leadership, promoting activities for seeking stock buyers and consultants of assessing company property, proposing staffs for equitization assistance group, and especially establishing the project of communications with an equitization roadmap of the Company in 2016.

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