Oil and Gas Industry Forecast Q2/2025: Industry Reports Big Profits, Why Did Two “Big Players” Petrolimex and BSR Drop by 35% and 91%?

Vietcombank Securities (VCBS) forecasts positive business results for the oil and gas sector in Q2/2025 for upstream companies such as PVS, GAS, and PVD due to large projects and increased gas output. In contrast, downstream companies like BSR and PLX are under profit pressure due to falling oil prices and high inventory levels. BSR is projected to have Q2 revenue of 32.295 trillion VND (up 32%) but profits down 91% to only 72 billion VND, impacted by high inventory values and oil price fluctuations. PLX expects revenue of 79.264 trillion VND (up 8%), but profit drops 35% to 836 billion VND due to high cost inventory. VCBS forecasts BSR’s full-year revenue will reach 113.386 trillion VND and profit of 1.609 trillion VND (up 175%). In contrast, PLX’s revenue is projected at 252.265 trillion VND (down 11%) and profits at 2.667 trillion VND (down 16%). Overall, the industry is still expected to show strong profits thanks to growth in the upstream sector.