Vietnam’s Black Gold Depleting by 50% After 14 Years: Activating a $25.7 Billion Campaign

Vietnam’s oil and gas industry is facing a 50% decline in production over the past 14 years as major fields exhaust their resources. However, the industry is set to enter a new investment cycle with an estimated $25.7 billion from 2025 to 2030 to mitigate supply issues. Large projects like Block B – O Mon and White Tuna are being expedited, along with new government policies to bolster the sector. While the crisis in Venezuela raised concerns over supply, the real impact on oil prices is expected to be limited. Experts predict that unless global economic conditions significantly improve, a sustainable increase in oil prices is unlikely in the near future.