Binh Son Refining and Petrochemical Joint Stock Company (stock code BSR) is implementing synchronous solutions to ensure crude oil supply for Dung Quat Oil Refinery to produce products.
According to BSR, the crude oil supply for the production activities of the factory is facing many difficulties. Specifically, recently, BSR bought crude oil with a sharp increase in surcharge, while the product sales surcharge is in the process of being negotiated and is unlikely to be as high as expected to offset the crude oil surcharge.
At the same time, the decrease in the number of shipping vessels and the increase in freight charges due to the impact of the Russia-kraine conflict also affect the profitability and competitiveness of BSR’s goods when exporting.
Therefore, the business performance of BSR in 2023 will depend a lot on the market. Especially, in the context that European countries are looking for crude oil supplies other than Russian oil, leading to a scarcity of oil in the market and BSR difficult to access many oil lots at attractive prices, with configurations suitable for the Plant.
[BSR hợp tác với Indian Oil phát triển các dự án lọc hóa dầu]
In the country, buying crude oil from domestic fields also encountered many difficulties, causing BSR to arrange crude oil from Bach Ho and Te Giac Trang fields under annual fixed contracts.
Not only facing difficulties in arranging input materials for Dung Quat Oil Refinery, BSR’s production and business performance may decrease when gasoline import tax is reduced, while corporate income tax is increased. double.
At the same time, in 2023, the factory will carry out the 5th overall maintenance, resulting in lower total production and sales volume, resulting in a decrease in total revenue and profit. At the same time, with the operating time of more than 12 years, many equipment and machinery of the plant have to be maintained and repaired regularly, leading to an increase in maintenance costs.
Overcoming these difficulties, BSR is synchronously deploying solution groups to complete production and business tasks in 2023.
BSR will closely follow the forecast of world oil prices, supply and demand in the domestic market to develop business scenarios and have appropriate response solutions. Diversify raw material sources, maximize domestic crude oil consumption in order to increase the benefits of the linkage chain in the industry. Regularly ensure safe, stable, continuous and efficient plant operation; inspect, detect hazards early and deploy risk control solutions, especially for important plant equipment.
Besides, flexibly adjusting factory capacity, product structure according to market demand and product price; optimize energy and production; in which searching, evaluating and testing new crude oil and researching and deploying to increase the capacity of technology workshops as well as to produce new PP products. In particular, maximize the use of on-site resources during maintenance and repair, minimize the use of external technical services to reduce costs…
During the 2023 Lunar New Year, Dung Quat Oil Refinery regularly operates at optimal capacity. In January alone, the factory produced and sold about 590,000 tons of products of all kinds to the market.
Mr. Nguyen (VNA/Vietnam+)