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Bình Sơn Refining and Petrochemical Joint Stock Company (BSR-HOSE) has approved a resolution to rename the company to PetroVietnam Refining and Petrochemical Corporation (PetroVietnam Refining and Petrochemical Corporation). The General Director has been assigned to organize and implement the name-change procedures, ensuring compliance with applicable laws and the company’s charter.
Under the company’s business registration certificate, the company’s head office is located at 208 Đại lộ Hùng Vương, Nghĩa Lộ Ward, Quảng Ngãi Province. Charter capital is nearly VND 50.073 trillion. Mr. Nguyễn Việt Thắng (born 1975) serves as General Director and the company’s legal representative.
BSR recently announced Q1 2026 business results, reporting revenue of VND 45.9 trillion, up 44% year-on-year (YoY). Net profit after tax attributable to minority shareholders reached VND 8.3 trillion, up 19.7x YoY.
VCSC attributed the strong profit growth mainly to a 10% YoY increase in sales volume, supported by improved operating efficiency and a sharp rise in crack spreads.
In Q1 2026, the average crack spread for key products, as measured by Platts Singapore, increased significantly. Gasoline rose 61-71% YoY, Jet A-1 increased 184% YoY, and diesel climbed 160% YoY.
VCSC said Q1 2026 results were substantially above its forecast. VCSC’s estimated net profit after tax attributable to shareholders was VND 5 trillion, compared with an earlier provisional figure of VND 3.3 trillion disclosed by the company.
VCSC also indicated potential for upward revisions to its current forecast. Revenue in Q1 and net profit after tax attributable to minority shareholders reached 29% and 51% of VCSC’s full-year forecasts, respectively. The better-than-expected performance was mainly linked to higher crack spreads and a modest increase in production. Management indicated operating efficiency could reach 126% (versus VCSC’s current assumption of 120%).
VCSC’s base-case price target is VND 27,000 per share, while the fair value in the positive scenario is VND 33,200 per share.
For 2026, BSR plans revenue of VND 154,140 billion (+7% YoY) and pre-tax profit of VND 2,405 billion (-60% YoY). The company also projects production of 7.7 million tonnes (-3% YoY).
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