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

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Vietnam Oil, gas and consumable fuels / Thematic (Sector/Industry)

<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