Oil and Gas sector – “Block B is on everyone’s lips”
- After many delays in FID approval, the Government has made notable movements to accelerate the project. It can be said that Block B is the center of attention for Vietnam’s O&G industry in 2024, and hence upstream will reap the benefits first. PVD (ACCUMULATE; TP: VND 30,900/share) and PVS (ACCUMULATE; TP: VND 40,100/share) are our favourable stock picks for 2024 strategy investment.
- Lac Da Vang (oil field) and Su Tu Trang – 2B (gas field) are two other notable projects in 2024-2026.
- Nevertheless, with the significant decline of domestic gas resources, imported LNG will be the optimal option to secure national energy security in short-term.
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