A powerhouse regional oil and gas producer, Brunei Darussalam has benefitted significantly from a long history of production in partnership with international oil companies. Hydrocarbons continue to dominate its economy today, accounting for the majority of government revenues, GDP and exports. The sector is facing a host of concurrent...
In a bid to diversify its economy, bolster future earnings from oil and gas revenues, and support ASEAN integration, Brunei Darussalam has joined a number of regional initiatives in recent years, with the goal of reducing consumption and increasing the use of renewable energy over the next decade. Regional cooperation in renewables development...
Although its dominant oil and gas sector will likely remain at the forefront of economic growth over the medium term, Brunei Darussalam has prioritised sector diversification and development of renewable energy projects in recent years, as highlighted by the 2014 “Energy White Paper”, as well as a climate change plan released prior to the...
One of the largest exporters of oil and gas in Southeast Asia, Brunei Darussalam has long benefitted from its strong trade relationships with Japan, China and its ASEAN neighbours, building a robust trade surplus in the years to 2014 on the back of rising exports and elevated petroleum prices. The oil market’s mid-2014 turnaround has had a...
As a founding member of the vast Trans-Pacific Partnership (TPP), the Sultanate is poised to welcome a host of economic benefits as a result of its membership. After a historic signing ceremony in October 2015, the next phase of the pact’s development will see each signatory seek domestic ratification prior to official enactment. Although...
Government revenues have declined significantly in Brunei Darussalam as a result of the global oil market slowdown, leading authorities to float a number of new policies aimed at rationalising spending. The 2016/17 budget reflects these challenges, with funding cut at nearly every department and a strong emphasis on improving efficiency and...
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