PVB

BSR reported Q1-2026 pretax profit of VND 9,248 billion (19x YoY), leading a group of 11 oil & gas firms to their highest combined profit in 15 quarters. However, PLX posted a loss of nearly VND 500 billion due to provisioning, and most sector stocks have corrected over 30% from 2026 highs, signaling divergence between upstream and downstream players.

BSR led a broad oil & gas rally on May 4, hitting the ceiling price, as geopolitical easing boosted sentiment. However, the VN-Index reversed to close flat as profit-taking emerged, and foreign investors net sold VND 928 billion, mainly in ACB, FPT, and HPG. The sector's strength was insufficient to sustain the broader market, highlighting ongoing caution.