Oil and Gas Industry - Anticipating a New Cycle in 2024
- Amid tightening supply and rising demand, most forecasts expect Brent oil prices to hover around USD 83/barrel, with no signs of cooling off in 2024. This environment of elevated oil prices is expected to support the upward trend of oilfield service costs and revive exploration activities. At the same time, the focus of Vietnam's oil and gas sector in the 2024-2026 period will be on the B-O Mon block series of projects, which will create additional employment opportunities for upstream oil companies
- We forecast that 6 to 8 new oil and gas projects with a combined potential investment of USD 11 bn will be launched in the two years of 2024 - 2025
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