1. Homepage
  2. Equities
  3. Vietnam
  4. Ho Chi Minh Stock Exchange
  5. Vietnam National Petroleum Group
  6. News
  7. Summary
    PLX   VN000000PLX1

VIETNAM NATIONAL PETROLEUM GROUP

(PLX)
  Report
End-of-day quote Ho Chi Minh Stock Exchange  -  05-26
42600.00 VND   +0.12%
05/05Vietnam National Petroleum Group Reports Earnings Results for the First Quarter Ended March 31, 2022
CI
02/14Viet Nam National Petroleum Group Appoints Dao Nam Hai as CEO, Effective March 01, 2022
CI
01/28Vietnam National Petroleum Group Reports Earnings Results for the Fourth Quarter Ended December 31, 2021
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Vietnam's Binh Son ups capacity, petrol firms boost imports amid shutdown fears

01/26/2022 | 04:50am EDT

(Recasts with Binh Son refinery working above capacity, adds details throughout)

* Second-largest refinery at 103% of capacity

* PetroVietnam blames Nghi Son for production shortfall

* Petroleum companies turn to imports, assure supply

HANOI, Jan 26 (Reuters) - Vietnam's Binh Son refinery on Wednesday said it was operating above capacity to address supply concerns, as top petroleum firms announced plans to boost imports amid fears of a shutdown of the country's biggest refinery.

Binh Son, one of two refineries in the Southeast Asian nation, said it was operating at 103% of capacity and would also import two shipments of crude oil of between 85,000 and 90,000 tonnes each, during the first days of February.

"The demand for petroleum products is increasing, especially during the Lunar New Year holiday, while other sources are facing difficulty," the refinery told Reuters.

The announcement comes after Vietnam's other refinery, Nghi Son, which provides 35% of its petroleum needs, cut its production to 80% of capacity, over what media reports and a source familiar with the issue said was a disagreement between shareholders about financing for crude oil.

On Wednesday, state oil firm PetroVietnam blamed Nghi Son Refinery and Petrochemical (NSRP) for the recent production cut.

State media had reported PetroVietnam had failed to make an early payment under a "Fuel Products Offtake Agreement" (FPOA) with the refinery, causing financial difficulties for Nghi Son.

But PetroVietnam, which owns 25.1% of the 200,000 barrel-per-day refinery in Thanh Hoa province, insisted it was not to blame.

"The management board of NSRP is responsible for its decision to cancel two shipments of crude oil that put the refinery at risk of shutdown," PetroVietnam said in a statement, adding it was in talks with other shareholders about restructuring NSRP.

NSRP did not immediately respond to a request from Reuters for comment.

Japan's Idemitsu Kosan Co has a 35.1% stake in the Nghi Son refinery, the same as Kuwait Petroleum, while Mitsui Chemicals Inc owns 4.7% of the firm.

A spokesperson at Idemitsu said the company was making internal checks on the news reports. Its shares were down 8.7% as of 0410 GMT, underperforming the broader benchmark Nikkei 225 index.

The Vietnam News Agency on Wednesday said Vietnam National Petroleum Group, which holds a 50% share in the local petroleum market, and PetroVietnam Oil (PVOil) will increase their imports to compensate for Nghi Son's decreased output.

Petrolimex had earlier signed an agreement to buy 235,000 to 265,000 cubic metres of petroleum products from the refinery this year, according to the report. (Additional reporting by Yuka Obayashi in Tokyo; Editing by Martin Petty)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
IDEMITSU KOSAN CO., LTD. 0.87% 3495 Delayed Quote.19.00%
LONDON BRENT OIL 1.52% 119.2 Delayed Quote.50.58%
MITSUI CHEMICALS, INC. -0.32% 3075 Delayed Quote.-0.49%
NIKKEI 225 0.66% 26781.68 Real-time Quote.-6.98%
PETROVIETNAM FERTILIZER AND CHEMICALS CORPORATION - JSC 0.53% 56800 End-of-day quote.13.60%
PETROVIETNAM GAS JOINT STOCK CORPORATION 2.23% 110000 End-of-day quote.14.35%
PVI HOLDINGS -0.59% 50200 End-of-day quote.2.66%
S&P GSCI CRUDE OIL INDEX 0.86% 630.6586 Real-time Quote.53.00%
UNITED PARCEL SERVICE INC 2.33% 182.53 Delayed Quote.-14.84%
VIETNAM NATIONAL PETROLEUM GROUP 0.12% 42600 End-of-day quote.-20.96%
WTI 0.94% 115.083 Delayed Quote.51.34%
All news about VIETNAM NATIONAL PETROLEUM GROUP
05/05Vietnam National Petroleum Group Reports Earnings Results for the First Quarter Ended M..
CI
02/14Viet Nam National Petroleum Group Appoints Dao Nam Hai as CEO, Effective March 01, 2022
CI
01/28Vietnam National Petroleum Group Reports Earnings Results for the Fourth Quarter Ended ..
CI
01/28Vietnam National Petroleum Group Reports Earnings Results for the Full Year Ended Decem..
CI
01/26Vietnam's Binh Son ups capacity, petrol firms boost imports amid shutdown fears
RE
01/26Vietnam petroleum traders to boost imports amid refinery shutdown fears - state media
RE
01/26Vietnam's Binh Son ups capacity, petrol firms boost imports amid shutdown fears
RE
2021Oxford college to change name after richest woman in Vietnam makes £155m donation
AQ
2021Vietnam National Petroleum Group Reports Earnings Results for the Third Quarter and Nin..
CI
2021Viet Nam National Petroleum Group Announces Retirement of Pham Duc Thang as CEO from No..
CI
More news
Financials
Sales 2022 203 588 B 8 760 M 8 760 M
Net income 2022 4 062 B 175 M 175 M
Net Debt 2022 - - -
P/E ratio 2022 13,9x
Yield 2022 6,10%
Capitalization 54 127 B 2 329 M 2 329 M
Capi. / Sales 2022 0,27x
Capi. / Sales 2023 0,26x
Nbr of Employees 25 577
Free-Float 8,86%
Chart VIETNAM NATIONAL PETROLEUM GROUP
Duration : Period :
Vietnam National Petroleum Group Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VIETNAM NATIONAL PETROLEUM GROUP
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 42 600,00 VND
Average target price 64 352,60 VND
Spread / Average Target 51,1%
EPS Revisions
Managers and Directors
Thang Duc Pham Chief Executive Officer & Director
Thanh Van Pham Chairman
Son Thanh Nguyen Director & Deputy Chief Executive Officer
Huong Van Le Director, Head-Human Resources & Compensation
Nam Ngoc Tran Director & Deputy Chief Executive Officer
Sector and Competitors
1st jan.Capi. (M$)
VIETNAM NATIONAL PETROLEUM GROUP-20.96%2 329
EXXON MOBIL CORPORATION59.49%411 102
CHEVRON CORPORATION51.92%350 287
RELIANCE INDUSTRIES LTD8.74%210 864
BP PLC30.30%104 557
CHINA PETROLEUM & CHEMICAL CORPORATION13.77%76 328