This is a best prospect industry sector for this country. Includes a market overview and trade data.
Overview
One of the government’s economic objectives is to grow and diversify Brunei’s downstream oil and gas sector. Current downstream activities include the Brunei Methanol Company Sdn Bhd (BMC) methanol plant in operation since 2010, the multi-billion-dollar Pulau Muara Besar (PMB) Refinery and Petrochemical Plant operated by Hengyi Industries Sdn Bhd since the end of 2019, and the Brunei Fertilizer Industries plant with a production capacity of 1,365,000 MT of urea per year which recently began operations mid-2021. The Hengyi petrochemical plant is expected to commence expansion this year.
The downstream sector recorded a significant increase of 433.5 per cent between Q3 2019 to Q3 2020. The export of downstream products has significantly increased the country’s share of non-oil and gas exports from 1.8 percent in 2019 to 48.6 percent in 2020.
Leading Sub-Sectors
- Downstream petrochemical manufacturing
Opportunities
U.S. firms have the experience and capability to provide basic materials, equipment, and services to downstream companies. This includes providing capacity building or development courses.
Brunei Government Resource