With a plan to increase capital to over 50 trillion VND, Binh Son Oil Refinery intends to change its name to ‘Vietnam Refining and Petrochemical Corporation’

Binh Son Refining and Petrochemical Joint Stock Company (BSR) is seeking shareholder approval for a capital increase plan to over 50 trillion VND to secure funding for the Upgrade and Expansion Project of Dung Quat Oil Refinery. This project, with a total investment of about 1.5 billion USD, aims to raise processing capacity from 6.5 million tons per year to 7.6 million tons per year and produce products meeting Euro 5 emission standards. BSR also proposes to change the company’s name to “Vietnam Refining and Petrochemical Corporation” to better reflect its stature and enhance its visibility for international cooperation. BSR plans to issue 1.9 billion shares and reported revenues of 93.104 trillion VND with a pre-tax profit exceeding the annual target for 2025.