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

Vietnam’s oil and gas industry has seen a 50% decline in production over 14 years. However, optimistic forecasts are emerging with major projects being reactivated, estimated to require a total investment of $25.7 billion from 2025 to 2030. The military event in Venezuela is expected to have minimal impact on the global oil market, as the country currently contributes little to global production. A potential price drop may occur if the political situation in Venezuela changes. In Vietnam, new government resolutions facilitate investments in the oil and gas sector. Future production is expected to improve due to the reactivation of projects and capital expenditure on exploration and production is set to double. Companies like PVS and PVD are viewed positively due to market recovery and decreased input costs.