Nghi Son Refinery and Petrochemical LLC 2025 Highlights: Strengthening Capabilities and Advancing Sustainable Growth  

The year 2025 marked an important milestone for Nghi Son Refinery and Petrochemical LLC (NSRP). Despite continued volatility in the global economy and energy markets, NSRP maintained safe and stable operations at high utilization rates. These results reinforced the Company’s role as a key industrial asset in Vietnam, supporting national energy security, contributing to the State budget, and creating a strong platform for long-term, sustainable growth.

Overview of Nghi Son refinery

Safe and Reliable Operations at High Utilization

Throughout 2025, the Nghi Son Refinery operated continuously and safely, achieving an optimized high utilization rate above its design capacity. This performance clearly demonstrates NSRP’s technical capability, operational management excellence, and organizational maturity. During the year, NSRP received and processed 45 crude oil cargoes, with a total feedstock volume of approximately 12 million tonnes, contributing to a stable supply of petroleum products that account for approximately 35-40% of Vietnam’s domestic market demand.

Business performance remained positive, with estimated revenue of around VND 188 trillion and State budget contributions of over VND 23 trillion. By the end of 2025, the Refinery recorded more than 24 million safe man-hours with zero Lost Time Injuries (LTI), underscoring the consistent application of robust safety standards across all operations.

Alongside production activities, NSRP continued to strengthen its internal structure to better support long-term commercial operations. A range of operational initiatives and technical improvements were implemented, supporting reductions in internal energy consumption, minimizing fuel losses, and improving overall efficiency during the 2023 – 2025 period.

Feedstock Diversification: A key strategic step

A major strategic achievement in 2025 was NSRP’s handling of its first non-Kuwaiti crude oil cargo, which safely arrived at the Refinery on 23 December 2025. Comprehensive safety, maritime, and technical checks were conducted  in line with international operating standards, demonstrating the Refinery’s readiness and technical capability for feedstock diversification. This achievement highlights NSRP’s efforts to enhance operational flexibility and resilience amid increasing uncertainty in the global energy market.

Energy Saving and ESG as Long-term Priorities

Reflecting its long-term sustainability strategy, on 11 September 2025 NSRP launched a six-month “Energy Saving and ESG (Environmental, Social and Governance) Campaign”. The initiative focuses on improving energy efficiency, encouraging responsible resource use, and gradually embedding ESG principles into day-to-day operations and corporate practices.

Through this program, NSRP continues to support Vietnam’s broader energy transition objectives while balancing operational performance, environmental responsibility, and social impact.

Supporting Employees and Local Communities

In parallel with its business activities, NSRP remains committed to providing stable employment and contributing positively to local communities. Since 2014, the Company has allocated approximately VND 300 billion to community support programs.

In 2025, NSRP implemented a range of social initiatives in Nghi Son (former town) and Thanh Hoa Province, with a total budget of around USD 570,000 (approximately VND 14.6 billion). These initiatives included providing clean water to around 1,300 households, awarding scholarships to 1,400 pupils and students, and delivering health check-ups and consultations for more than 1,000 local residents.

The Company also supported local infrastructure and livelihoods, carried out environmental activities under the “Green Nghi Son” initiative, and, in coordination with the NSRP Trade Union, mobilized approximately VND 800 million to assist communities in Thanh Hoa Province affected by Typhoon Bualoi.

 Industry and Local Recognition

NSRP’s performance in operational safety, regulatory compliance, and community engagement was recognized by local authorities and industry stakeholders through various commendations. These included Certificates of Merit from the Chairman of the Thanh Hoa Provincial People’s Committee, as well as recognition as an Outstanding Enterprise and Outstanding Entrepreneur of Thanh Hoa Province in 2025.

NSRP was also highly regarded for its contribution to planning, training, and implementation of fire prevention, firefighting, and emergency response drills at the Nghi Son Refinery in 2024.

Looking Ahead

With solid operational performance, continued technical improvement, and a clear focus on sustainability, NSRP closed 2025 with strengthened internal capabilities and a clear direction for the future.

Engineers are working at the Nghi Son refinery.

In 2026, the Company will continue its efforts to further enhance reliability, efficiency, and energy-saving performance, while preparing for “Evolution 2030” – the Company’s long-term roadmap toward the next phase of growth. Looking to the new year, NSRP remains committed to ensuring reliable energy supply and promoting sustainable practices that support Vietnam’s economic development and long-term energy transition.