BSR makes ESG a long-term growth driver: From a Pillar of Energy Security to a Green Enterprise in the Energy Transition Era

ESG Is No Longer an Option, but a New Competitive Capability

For BSR, sustainable development is not a slogan added after production activities; it is increasingly becoming an integral part of the company’s governance, investment and operational strategy. Built on the foundation of Dung Quat Refinery - Vietnam’s first oil refinery - BSR has gradually shaped a development model that combines business efficiency, environmental responsibility, human capability and modern governance.

Dung Quat Refinery, managed and operated by BSR, has a crude oil processing capacity of around 6.5 million tonnes per year and is introduced as meeting about 30% of Vietnam’s domestic petroleum demand. This positions the refinery as an important contributor to national energy security. That foundation allows BSR to be seen not merely as a large-scale industrial manufacturer, but as a strategic link in the country’s energy system.

A notable milestone in 2026 was the approval by the General Meeting of Shareholders of the change of name from Binh Son Refining and Petrochemical Joint Stock Company to Vietnam Refining and Petrochemical Corporation. The change carries more than legal or branding significance. It reflects a shift in vision: from an enterprise focused on operating a refinery to a corporation aspiring to expand its value chain, enhance competitiveness and integrate more deeply into the regional energy market.

As environmental, social and governance standards increasingly become the common language of capital markets, international partners and global supply chains, BSR’s presence among the Top 10 Green ESG Enterprises in Vietnam 2026 demonstrates that linking growth with sustainable development is creating real value.

From Environmental Governance to Safety Culture: The Foundation of Sustainable Growth

One of the most prominent aspects of BSR’s ESG journey is its effort to manage and protect the environment while operating a highly specialized industrial production system. The image of BSR representatives receiving the 2026 Quang Ngai Environmental Protection Award is a meaningful indicator: the company is not only running a large-scale refining and petrochemical complex, but must also prove its ability to control environmental risks, maintain monitoring systems, manage waste streams and operate safely over the long term.

In the refining and petrochemical industry, being “green” cannot be understood simply as reducing the visual presence of smoke or adding more trees. Green performance first lies in technological discipline: wastewater and emission treatment systems, product-quality control, incident-prevention procedures, monitoring data and the compliance culture of every operating shift. For a plant that runs continuously, even a small deviation can create a major risk. Environmental governance, therefore, must always go hand in hand with safety governance.

BSR also pays attention to sharing environmental-management experience, circular-economy models and practical “green know-how” with the business community in Quang Ngai. This approach shows that the company’s role does not stop at the refinery fence. It extends into the local development ecosystem, where environmental-management knowledge can be shared and converted into a broader collective capability.

Alongside environmental management, safety culture is a particularly important pillar. Programs such as HSE Mass Toolbox Talk, with messages emphasizing doing things right from the beginning, show that BSR continues to reinforce compliance awareness across the entire workforce at Dung Quat Refinery. This is the core of ESG in heavy industry: every growth objective must stand on a foundation of safety, because no sustainable development can be separated from the safety of people, equipment and the environment.

Human resources remain one of BSR’s strongest internal assets. From the early days of building Dung Quat Refinery to the current transformation into Vietnam Refining and Petrochemical Corporation, generations of engineers, operators and technical specialists have accumulated experience, resilience and the ability to master complex technologies. The corporate culture expressed through the spirit of “Energy Leads the Way - Transforming to Reach Further” is therefore more than an internal message. It is the basis on which BSR maintains endurance in a volatile market environment.

Digital Transformation and Clean Fuels: Two Tracks Toward the Future

If ESG provides the framework for sustainable development, digital transformation and clean fuels are the two driving forces that help BSR expand its growth space. In refinery management, big data, artificial intelligence, automation and forecasting systems can help optimize operations, manage risks, reduce costs and improve the reliability of the production chain. BSR’s efforts in digital transformation and the movement toward a comprehensive digital-enterprise model reflect its determination to bring technology into modern corporate governance.

In the field of clean fuels, E10 bio-gasoline is a significant highlight. BSR plays a central role in the value chain by turning ethanol into a commercial biofuel product through its capacity to produce base gasoline, tank systems, blending infrastructure, laboratories, quality control and product-export facilities. Connecting E100 ethanol from Dung Quat Bio-Ethanol Plant with BSR’s refining and blending infrastructure creates conditions for E10 to be produced stably and meet technical requirements before reaching the market.

In May 2026, BSR successfully delivered the first 12,000 cubic meters of E10 RON95 by sea from the Jetty Port of Dung Quat Refinery, marking an important step in expanding the large-scale supply channel for bio-gasoline. Earlier, BSR also coordinated the commercial sale of E10 RON95 by road in the central region, serving Quang Ngai and neighboring localities.

Beyond E10, BSR is also studying new energy trends, including sustainable aviation fuel (SAF). Discussions on cooperation with ASP Shipping on SAF show that the company is proactively seeking opportunities to diversify its portfolio of cleaner energy products, especially in sectors such as aviation, where pressure to reduce emissions is increasing rapidly.

The images of the tank farm, the aerial view of Dung Quat Refinery, fuel-blending operations and the sale of E10 bio-gasoline present a relatively complete picture. BSR not only possesses large-scale industrial infrastructure; it is gradually transforming that infrastructure into a platform for greener products, optimized operations and a broader role in the energy chain of the future.

Long-Term Growth Begins with Sustainable Development Capability

BSR’s ESG journey reveals a deep transformation: from the enterprise operating Vietnam’s first oil refinery to a corporation with regional ambition; from the core mission of securing domestic petroleum supply to a strategy of greening products, digitalizing governance and raising safety and environmental standards. Achievements such as recognition among Vietnam’s Top 10 Green ESG Enterprises in 2026, the Quang Ngai Environmental Protection Award, the development of E10 bio-gasoline, the promotion of digital transformation and research into sustainable aviation fuel are not isolated highlights. Together, they are forming a new growth axis.

In the age of energy transition, a refining and petrochemical enterprise that wants to go far cannot rely only on capacity, assets or operating experience. Long-term value will belong to companies that know how to manage environmental risks, invest in people, enhance governance transparency, master technology and proactively transform their product portfolios. From Dung Quat, BSR is sending a clear message: ESG does not slow growth. On the contrary, ESG is the driver that makes growth more sustainable, more responsible and more competitive in the future.

By Hai Dong