Vietnam’s Black Gold Depletes by 50% After 14 Years: Activating a $25.7 Billion Campaign, Oil and Gas Companies ‘Share Opportunities’ Despite Winds from Venezuela

After 14 years, Vietnam’s crude oil extraction has dropped nearly 50%, from 17.3 million tons to 8.5 million tons, due to the depletion of key oil fields. In this context, Vietnam’s oil and gas industry is preparing for a new investment cycle with a total of $25.7 billion projected for 2025-2030. Although global and Venezuelan circumstances affect oil prices, many experts predict that oil prices will remain stable or decrease in the long term due to oversupply. Domestic oil companies, such as PVS and PVD, are seizing opportunities from increased capital expenditure in large-scale projects like Block B – O Mon, with expected revenue and profit growth in 2026. This is a positive sign for recovery and development in Vietnam’s oil and gas sector.