Fuel subsidies have always played a significant role in Southeast Asia – most notably in oil producing states such as Brunei, Indonesia, Malaysia, Myanmar, Thailand and Vietnam. While Southeast Asia’s economy may be expanding rapidly, most of the countries there have yet to reach the level of a high-income nation.
As Brunei celebrates its 35th National Day today, the country’s residents can be heartened by their progress in the last three and a half decades. A British protectorate since 1888, Brunei gained independence in 1984 and is an active member of the international and regional community – joining ASEAN the same year.
In efforts to restore its petroleum sector after years of conflict-driven disruption, the government of South Sudan has extended the Exploration Production Sharing Agreement (EPSA) and Transitional Agreement Extension for three blocks in September this
Fuel subsidies have always played a significant role in Southeast Asia – most notably in oil producing states such as Brunei, Indonesia, Malaysia, Myanmar, Thailand and Vietnam.
Every time Malaysia’s national oil and gas company PETRONAS declares a profit, the nation’s four oil-producing states will clamour for a bigger slice of the pie than the current five percent royalty they are receiving.
The chandeliered halls of Vienna’s Hofburg palace will be the venue for the meeting between leaders of the Organization of the Petroleum Exporting Countries (OPEC) as they decide on output policy amid calls by the major oil consuming economies of the Un
The oil and gas industry has seen turbulent times over the last 10 years, with the 2008 financial crisis as a turning point for the industry as a whole.
In an effort to stimulate economic growth, Brunei’s monarch and leader Sultan Hassanal Bolkiah launched “Wawasan Brunei 2035” also known as “Vision 2035”.
As Southeast Asia becomes one of the fastest developing regions in the world, concerns over its energy security is fast growing. Southeast Asia has a combined population of over 600 million people and an economy worth nearly US$3 trillion.