The increasing focus on economic diversification and the ongoing growth of non-energy sectors bodes well for the economy, as does further exploration and improved efficiency in the oil and gas industry. Economy: Driving Diversification - Brunei Darussalam has launched a series of reforms in recent years aimed at accelerating development of non-energy sectors, including high-tech, agricultural…
A rising tide of new investments are expected to underpin growth in Brunei Darussalam’s recovering energy industry, against a backdrop of increasing oil and gas output. Several contracts have been awarded for Brunei Darussalam’s offshore fields – which could deliver 3.5bn barrels of oil by 2035 – offering opportunities for operators throughout the energy value chain. A boost for service providers New…
A powerhouse regional oil and gas producer, Brunei Darussalam has benefitted significantly from a long history of production in partnership with international oil companies. Hydrocarbons continue to dominate its economy today, accounting for the majority of government revenues, GDP and exports. The sector is facing a host of concurrent challenges – production at Brunei Darussalam’s mature fields…
Although nearly all residents of Brunei Darussalam are connected to the electricity grid and benefit from a well-developed, reliable and low-priced utilities system, electricity consumption per capita in the Sultanate is among the highest in the world, while difficulties in accessing new power supply have hindered expansion of some industrial enterprises in recent years. Residential consumers continue…
In a bid to diversify its economy, bolster future earnings from oil and gas revenues, and support ASEAN integration, Brunei Darussalam has joined a number of regional initiatives in recent years, with the goal of reducing consumption and increasing the use of renewable energy over the next decade. Regional cooperation in renewables development is becoming increasingly common for Brunei Darussalam’s…
Although its dominant oil and gas sector will likely remain at the forefront of economic growth over the medium term, Brunei Darussalam has prioritised sector diversification and development of renewable energy projects in recent years, as highlighted by the 2014 “Energy White Paper”, as well as a climate change plan released prior to the COP21 UN Conference on Climate Change, hosted in Paris in…
Brunei Darussalam was a pioneer in the liquefied natural gas (LNG) sector during the 1970s, building a large-scale liquefaction plant and developing long-standing export ties to key markets in Japan and South Korea, leading to robust industry expansion and a substantial augmentation of its petroleum revenue base. However, both production and export of LNG has fallen in recent years, as ongoing maintenance…
A powerhouse regional oil and gas producer, Brunei Darussalam has benefited significantly from a long history of hydrocarbons production in partnership with international oil companies. The energy sector continues to dominate the economy today, accounting for the majority of government revenues, GDP and exports. However, the sector is facing a host of concurrent challenges – production at Brunei…
Despite economic and legal changes now under way, Brunei Darussalam remains well positioned to continue on its current trajectory of steady economic growth and political stability. The increasing focus on economic diversification, and the ongoing growth of the non-energy sectors, bodes well for the Bruneian economy, as does further exploration and improved efficiency in the oil and gas industry. F
An upgrade to its fleet of tankers could help Brunei Darussalam’s liquefied natural gas (LNG) sector weather external headwinds, which appear unlikely to ease in the near to medium term. While Brunei is taking steps to diversify its economy, the energy sector remains at its core, with hydrocarbons revenues accounting for around half of GDP. The country’s LNG sector revolves around the partly…
