External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

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Thematic (Sector/Industry)

<ul><li>The recovery of China’s market points to rising demand for crude oil.</li><li>China’s total imports have increased by 20% YoY, providing significant support for oil prices amid the global economy’s still-slow recovery.</li><li>According to the International Energy Agency (IEA), global crude oil demand is forecast to increase to 103mnbd by 2mnbd (+2% YoY) in 2023.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

The recovery of China’s market points to rising demand for crude oil.China’s total imports have increased by 20% YoY, providing significant support for oil prices amid the global economy’s still-slow recovery.According to the International Energy Agency (IEA), global crude oil demand is forecast to increase to 103mnbd by 2mnbd (+2% YoY) in 2023.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Industry Report - Oil and Gas - Neutral - China's recovery holds key to growth

<ul><li>Vietnam's crude oil trade has shifted towards net imports since 2018. The main reason for this is that domestic demand for crude oil has surged</li><li>From 2015 onwards, the import value of petroleum has decreased significantly compared with the previous period.</li><li>In 2018, when the Nghi Son Refinery and Petrochemical project came into operation, the proportion of crude oil imports rose sharply, exceeding the import proportion of petroleum in 2020 and 2021.</li></ul>

Vietnam's crude oil trade has shifted towards net imports since 2018. The main reason for this is that domestic demand for crude oil has surgedFrom 2015 onwards, the import value of petroleum has decreased significantly compared with the previous period.In 2018, when the Nghi Son Refinery and Petrochemical project came into operation, the proportion of crude oil imports rose sharply, exceeding the import proportion of petroleum in 2020 and 2021.

Oil Price Shock’s Impacts on Vietnam’s Oil and Gas Industry

Vietnam

PetroVietnam Drilling and Well Services JSC offers technical services to the oil and natural gas industry.  The Company offers drilling and work-over contracting; chartering and operating drilling rigs; well testing, cementing, wire-line logging, tubular handling and other services; and engineering, fabrication, installation, inspection, refurbishment and maintenance of tools.

PetroVietnam Drilling and Well Services (PVD VN)

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