OIL AND GAS INDUSTRY IN Q1 – Q2/2022 [INFOGRAPHIC]

Vietnam’s oil and gas industry in the first 6 months of 2022 is affected by the world oil and gas market in the context that the epidemic situation is gradually under control and the global economy is recovering, according to a VIRAC report. However, in contrast to the more prosperous developments of world supply and demand, Vietnam’s oil and gas market continues to face difficulties when the import and export of crude oil and natural gas both decrease in volume and price. value compared to the same period in 2021; The domestic demand for petroleum dropped due to the price “escalating”;… Some industries are directly affected by the high oil price such as:

Power sector: If crude oil and natural gas prices continue to soar, electrification may become less competitive than other energy sources.
Fertilizer industry: The current increase in urea prices may not be able to compensate for the increase in input gas prices causing difficulties for producers.
Petrol/flying fuel: In the context of the increasing Covid-19 epidemic, it may be a big obstacle to domestic fuel consumption.

 

 


 

The above is the Petroleum 2022 Infographic with information collected from the ‘OIL AND GAS INDUSTRY REPORT Q2 2022’ produced exclusively by VIRAC. The ‘OIL AND GAS INDUSTRY REPORT Q2 2022’ will fully describe the multi-dimensional view of the macroeconomic situation, the situation of production, consumption, import and export along with specific economic indicators on the Oil industry. gas in 2022 as well as the industry outlook for the last 6 months of 2022. To refer to the contents that will be included in the full report, register to receive a demo here:

 

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