The world oil and gas industry will continue to grow steadily in 2018,
with demand growth expected to rise slightly to around xx.x million barrels a
day while gas demand is expected to grow faster. Gas demand is predicted to
grow at an average annual rate of 2.1% per year in the period 2018-2020. World
oil supplies have increased by nearly 1.5 million barrels per day to about xx
million barrels a day in the first quarter of 2018. The Middle East is the main
global oil supplier, accounting for 34.5% of total production. Oil prices in
the first quarter of 2018 continued to show positive growth of about xx.x
USD/barrel, up 24% over last year. In 2016, global natural gas production
reached 3,552 trillion cubic meters, up 0.6 percent from 2015-the lowest growth
since 2009 up to now.
Vietnam Oil And Gas Industry
is still relatively young and has just begun to receive proper attention from
the Government. Vietnam oil and gas industry is still putting the main export
exploitation as the key role so it depends heavily on world oil price. The oil
and gas industry includes many stages, not only explored and exploited, but
also processed from crude oil into refined oil. As usual, the oil industry is
divided into three types of activities known as the upstream, midstream, and
downstream.
In the first quarter of 2018,
the oil and gas industry exploited nearly x.xx million tons of oil, down 8.57%
over the same period. The natural gas output reached x,xxx m3, up 6.15%
compared to the same period of 2017. According to preliminary data from the
General Department of Customs, in the first quarter of 2018, crude oil exports
reached x.xx million tons, export turnover reached x.xx billion USD, decreasing
by 19.3% over the same period of 2016. Vietnam's crude oil imports are estimated
at xxx.x thousand tons with the value of about xx.x million USD, increasing by
14% in volume and 29.6% in value over the same period in 2017. In terms of gas,
Vietnam exported USD xx.x million, up 1.97% but imports up to xxx.x million, up
39% against same period.
In 2016, the group of oil and
gas enterprises had negative growth in net sales compared to 2015. The reason
is that the domestic oil and gas industry was strongly affected by the world
oil and gas market; In particular, world oil prices fell sharply and remained
low. In the coming time, cutting crude oil production by OPEC leads to the
upward trend in crude oil prices. That will have a strong impact on the
domestic petroleum market; in which, the oil and gas exploitation of Vietnam is
evaluated to be stable again.
To know more, click on the link below:-
Related Reports:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
