Oil and Gas Sector Forecast Q2/2025: Industry Reports Significant Profits, Why Did Two “Giants” Petrolimex and BSR Face Drops of 35% and 91%?

According to a report by Vietcombank (VCBS), the oil and gas sector is expected to have a positive business performance in Q2/2025 from upstream companies while downstream ones are under pressure. Firms like PTSC (PVS) and PV Drilling (PVD) forecast profit growth due to major projects and increased output. Conversely, Binh Son Refining and Petrochemical (BSR) and PetroVietnam Oil Corporation (PLX) are facing profit declines due to high inventory costs and falling oil prices. Specifically, BSR’s revenue is projected at 32.295 trillion VND with a profit of only 72 billion VND, down 91%. Meanwhile, PLX expects revenue of 79.264 trillion VND, with profits down 35%. Despite revenue growth, both companies see profit reductions due to high inventory costs and low gross profit margins. VCBS forecasts that BSR’s total revenue will be 113.386 trillion VND for the entire year of 2025, while PLX anticipates 252.265 trillion VND.