After 14 years, Vietnam’s oil industry has seen a nearly 50% drop in production, from 17.3 million tons to 8.5 million tons. This depletion is primarily due to aging fields like Bach Ho and Rang Dong decreasing output rapidly. In this context, the Vietnamese government has initiated a $25.7 billion investment campaign from 2025 to 2030 to revitalize major oil projects to compensate for the declining supply. Experts predict that infrastructure development and legal reforms will drive the oil sector forward. Projects like Block B and White Kingfish are progressing, while the government has enacted several resolutions to support the sector. However, short-term oil price prospects remain bleak due to weak global demand and oversupply.
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