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On May 8, 2026, Bình Sơn Refinery - Petrochemical Joint Stock Company (BSR) announced a personnel change. The company’s Board of Directors relieved Mr. Bach Duc Long of his post as chief accountant effective May 8, 2026. Following the dismissal, Mr. Bach Duc Long is no longer an internal employee of the company.
Mr. Bach Duc Long, born in 1976, had been appointed chief accountant of BSR on May 4, 2024.
On the same date, BSR appointed Mr. Do Duc Hung, chief accountant of PVTrans Joint Stock Company (PetroVietnam Transportation), as chief accountant of BSR for a five-year term, effective May 8, 2026.
Mr. Hung, born in 1980, currently holds no BSR shares.
Also on May 8, 2026, the BSR Board of Directors issued a resolution to change the company’s name from Bình Sơn Refinery - Petrochemical Joint Stock Company to PetroVietnam Refining and Petrochemical Corporation.
From May 10, 2026, BSR officially operates under the new name, replacing the former name. The new name has been registered with the business registration certificate issued by the Department of Finance of Quang Ngai Province.
BSR is the operator of the Dung Quát Refinery, Vietnam’s first refinery, which has been in commercial operation since 2009. The refinery has a designed capacity of about 6.5 million tons of crude oil per year.
The project has a total investment of about $3 billion. It currently supplies about 30% of domestic gasoline demand and often operates beyond design capacity to ensure supply.
In Q1 2026, BSR reported revenue of over VND 45.9 trillion, up 44% year-on-year.
BSR’s after-tax profit in Q1 2026 reached VND 8.265 trillion, more than 20 times the same period last year, marking the highest quarterly profit in four years.
With these results, BSR surpassed its full-year net profit target of VND 2.162 trillion set at the company’s annual shareholders’ meeting held last month.
According to BSR, the sharp increase in profit was driven by a rise in crude oil prices in Q1. Crude prices increased from about $67 per barrel in January to nearly $104 in March.
By comparison, crude prices in the same period last year fell from $79 to $72.6 per barrel.
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