BSR, the operator of the Dung Quat Oil Refinery, has announced in a board resolution that it will change its name after previous approval by the shareholders' meeting. The new name is Joint Stock Company - Vietnam National Refinery and Petrochemical Corporation. BSR is a leading unit in refining and petrochemicals, and the name change to Joint Stock Company aims to align with the company's strategic vision and to elevate its branding and position within the oil and gas value chain. In practice, many key industrial companies expand and rebrand to include the term 'Tổng Công ty' to reflect scale, leadership, and to facilitate international collaboration and access to capital markets. From this context, renaming BSR to Joint Stock Company - Vietnam National Refinery and Petrochemical Corporation is seen as a necessary step to reflect the strategic vision and to pave the way for higher-level brand repositioning in the next phase. After the rename, the group will continue to use its website www.bsr.com.vn and the current logo design to preserve the brand recognition built over more than 15 years. Regarding the 2026 business plan, BSR targets consolidated revenue of over VND 154,140 billion and after-tax profit of VND 2,162 billion, up 25% and down 58% respectively from 2025. The company aims to pay nearly VND 12,600 billion to the state budget. In the first quarter, BSR reported revenue of over VND 45,900 billion, up 44% year-on-year. After costs, after-tax profit reached VND 8,265 billion, more than 20 times the VND 400 billion in the same period last year. This is the highest quarterly profit in four years, and the result also exceeded the annual after-tax profit target. In the revenue mix, diesel accounted for nearly half of revenue with VND 21,180 billion, while gasoline RON 95 and RON 92 together generated more than VND 16,000 billion. Other contributions come from Jet A-1 aviation
fuel, liquefied petroleum gas, biofuels, and kerosene—products of the Dung Quất refinery operated by BSR. The Dung Quất refinery is Vietnam's first refinery, commissioned in 2009 with a design capacity of about 6.5 million tonnes of crude oil per year. The project had a total investment of about USD 3 billion and currently meets about 30% of domestic gasoline and diesel demand and often operates above design capacity to ensure supply. Hà Linh
