News National Business News National Business Brunei begins exploratory drilling in deepwater wells Gov't hopes to triple oil production in next 5 years March 30, 2021 BANDAR SERI BEGAWAN – Brunei Shell Petroleum (BSP) and Shell Exploration and Production Brunei (SEPB) are making final preparations to drill deepwater exploration wells…
News Legislative Council National News Legislative Council National All four districts to operate solar power plants within 5 years Energy ministry eyes Hengyi expansion in 2022 as oil and gas sector expected to increase output March 22, 2021 BANDAR SERI BEGAWAN — Brunei will build three new solar power plants within the next five years as part of its transition from…
News National Business News National Business Brunei GDP declines 1.4% in Q4 2020 Oil and gas sector reports negative growth in all four quarters of 2020 but downstream sector maintains positive momentum March 19, 2021 BANDAR SERI BEGAWAN – The Brunei economy shrank 1.4 percent in the final quarter of last year, ending its run of positive growth…
News National Business News National Business Brunei’s economic growth slows to 0.5% in third quarter 2020 The downstream sector remains the top performer while the upstream sector reports more revenue losses January 5, 2021 BANDAR SERI BEGAWAN – Brunei posted a slower economic growth of 0.5 percent in the third quarter of 2020 even as the downstream…
News National Business News National Business AMBD: Petrochemical activities biggest driver of economic growth in first half of 2020 Inflation is likely to ease in 2021 after reaching a 12-year high in June 2020 January 3, 2021 BANDAR SERI BEGAWAN – A whopping 594.7 percent rise in petrochemical production has contributed to a GDP growth of 2.6 percent year-on-year in…
News National Business News National Business Rising petrochemical exports offset COVID-19 impact as Brunei economy grows 2.8% in Q2 The Brunei economy fared better than expected but aviation and hotel sectors suffer major losses October 27, 2020 BANDAR SERI BEGAWAN – The Brunei economy grew 2.8 percent in the second quarter of 2020, buoyed by increased exports of petrochemical products…
News National Business News National Business CSPS: Gov’t faces tough budget decisions amid lower oil revenue The think tank warns that holding back on spending will harm economic growth October 27, 2020 BANDAR SERI BEGAWAN – Difficult choices loom for the Brunei government on cutting spending or introducing new taxes to balance its budget in…
News National Business News National Business MoFE: Expansion of Hengyi complex will be ‘significant’ boost to Brunei economy Gov't is near agreement with Hengyi to begin construction on Phase 2 of petrochemical complex September 29, 2020 BANDAR SERI BEGAWAN – The Brunei government and Hengyi Industries are “very close” to an agreement to begin a multi-billion dollar expansion of…
News National Business News National Business CSPS lowers economic growth forecast over COVID-19 uncertainty Brunei lacks real-time economic data to effectively monitor impact of pandemic, says think tank July 21, 2020 BANDAR SERI BEGAWAN – Brunei think tank Centre for Strategic and Policy Studies (CSPS) has painted a less rosy economic outlook of the…
News National Business News National Business Brunei economy grew 2.4% in first quarter amid pandemic Strong showing in the downstream sector contributed to rise in export earnings despite airline industry woes July 16, 2020 BANDAR SERI BEGAWAN – Strong growth in the downstream sector has offset major revenue losses in the airline industry as Brunei’s economy expanded…