Oil and gas industry makes a significant contribution to Gross Domestic Product of Vietnam. In 2015 it appeared to be in an intricate situation under the conditions of fall in oil prices caused by excess of supply over demand in the oil market. On the one hand, low prices for oil enable Vietnam as an importer to purchase more oil in the world market. On the other hand, the state company PetroVietnam loses a part of its customers in the domestic market. This tendency can lead to stagnation of the oil and gas industry in Vietnam under weak oil prices if the government does not take timely action.
|Journal||IOP Conference Series: Earth and Environmental Science|
|Publication status||Published - 11 Oct 2016|
ASJC Scopus subject areas
- Environmental Science(all)
- Earth and Planetary Sciences(all)