- BSR released its Q2 2022 financial results with revenue of VND52tn (USD2.2bn; +88.1% YoY) and record-high NPAT-MI of VND9.9tn (USD432mn; +488.4% YoY), which were driven by strong gasoline and diesel crack spreads in the quarter. 

- In Q2 2022, the average Platts Singapore diesel and gasoline spreads were USD37 and USD27 per barrel (+10.3x YoY and +3.4x YoY, respectively) and almost tripling and doubling their respective Q1 2022 averages. These increases were due to a tightened supply resulting from the Russia-Ukraine conflict, China’s reopening and the global demand recovery. 

- Q2 2022 NPAT more than quadrupled the Q1 2022 result. Notably, BSR booked an inventory provision reversal of VND1.5tn (USD65mn) in Q2 2022.