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Economy of Brunei Darussalam and business opportunities

Economy of Brunei

Brunei is a country with a small, wealthy economy that is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village tradition. It is almost totally supported by exports of crude oil and natural gas, with revenues from the petroleum sector accounting for over half of GDP. Per capita GDP is high, and substantial income from overseas investment supplements income from domestic production. The government provides for all medical services and subsidizes food and housing. The government has shown progress in its basic policy of diversifying the economy away from oil and gas. Brunei's leaders are concerned that steadily increased integration in the world economy will undermine internal social cohesion although it has taken steps to become a more prominent player by serving as chairman for the 2000 APEC (Asian Pacific Economic Cooperation) forum. Growth in 1999 was estimated at 2.5% due to higher oil prices in the second half.

Brunei is the third-largest oil producer in Southeast Asia, averaging about 180,000 barrels per day (29,000 m3/d). It also is the fourth-largest producer of liquefied natural gas in the world.

Oil and gas industry

Brunei Shell Petroleum (BSP), a joint venture owned in equal shares by the Brunei Government and the Royal Dutch/Shell group of companies, is the chief oil and gas production company in Brunei. It also operates the country's only refinery. BSP and four sister companies constitute the largest employer in Brunei after the government. BSP's small refinery has a distillation capacity of 10,000 barrels per day (1,600 m3/d). This satisfies domestic demand for most petroleum products.

Brunei's proven oil and gas reserves are sufficient until at least 2015, and planned deep sea exploration is expected to find significant new reserves. The government sought in the past decade to diversify the economy with limited success. Oil and gas and government spending still account for most of Brunei's economic activity. Brunei's non-petroleum industries include agriculture, forestry, fishing, and banking.

Petrochemical industry

In the western part of the country, Liang is currently experiencing a major development with the establishment of SPARK, which is a 271 hectare site developed to be a world class petrochemical hub. The first major investment at SPARK is the USD450 million Methanol plant developed by the Brunei Methanol Company, a joint venture between Petroleum Brunei and two leading Japanese companies, Mitsubishi Chemical Holdings Corporation and Itochu Corporation.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Brunei Darussalam"

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This section contains economy and business opportunities and from Brunei Darussalam.
Brunei Darussalam Economy Bruneian Economy, business opportunities in Brunei Darussalam.
Summary:
Renting the center's buffet
Country:
Brunei Darussalam
 
Notice Type:
Tender Notice
Deadline:
20 May 2024
Posting Date:
24 Apr 2024
 
 
 
Summary:
Supply, Delivery And Testing Of Meteorological Upper Wind Observation Balloons To Brunei Darussalam Meteorological Department
Country:
Brunei Darussalam
 
Notice Type:
Tender Notice
Deadline:
13 May 2024
Posting Date:
24 Apr 2024
 
 
 
Summary:
Calibration Of Wind Sensors For The Brunei Darusalam Meteorological Department”
Country:
Brunei Darussalam
 
Notice Type:
Tender Notice
Deadline:
29 Apr 2024
Posting Date:
24 Apr 2024
 
 
 
Summary:
Supply And Delivery Of 24 UNIT 2TB SSD QNAPS TS / 1279URP For Ministry Of Primary Resources And Tourism
Country:
Brunei Darussalam
 
Notice Type:
Tender Notice
Deadline:
09 May 2024
Posting Date:
24 Apr 2024
 
 
 
Summary:
Design, Supply, Fabricate, Delivery And Install Of Interpretive Signages Of Plant At Tasek Lama Recreational Park, Bandar Seri Begawan ”
Country:
Brunei Darussalam
 
Notice Type:
Tender Notice
Deadline:
16 May 2024
Posting Date:
24 Apr 2024
 
 
 
Summary:
1] Building Management And Cleaning Services (Housekeeping) For Masin Religious School, Brunei Area IV 2] Building Management And Cleaning Services (Housekeeping) For Pengiran Anak Puteri Fadzillah Lubabul Bolkiah Religious School, Kupang Tutong Area
Country:
Brunei Darussalam
 
Notice Type:
Tender Notice
Deadline:
08 May 2024
Posting Date:
24 Apr 2024
 
 
 
Summary:
Insurance Protection Scheme / Takaful For Subdistrict Heads, Village Heads And Longhouse Heads for One (1) Year
Country:
Brunei Darussalam
 
Notice Type:
Tender Notice
Deadline:
01 May 2024
Posting Date:
24 Apr 2024
 
 
 
Summary:
Backdrop Manufacturing And Installation Services, Image Printing, Rostrums And Tables For TV Reality Programs, Television Show Division, RTB.
Country:
Brunei Darussalam
 
Notice Type:
Tender Notice
Deadline:
08 May 2024
Posting Date:
24 Apr 2024
 
 
 
Summary:
Provision of cutting and clearing grass, drains and trees in the Airside Whiskey 2 Whiskey 3 area, Civil Aviation Department for a period of 1 year (12 months) (Class I and II)
Country:
Brunei Darussalam
 
Notice Type:
Tender Notice
Deadline:
15 May 2024
Posting Date:
22 Apr 2024
 
 
 
Summary:
1] CANTEEN SERVICE FOR: MAKTAB DULI PENGIRAN MUDA AL-MUHTADEE BILLAH, GADONG, BRUNEI MUARA DISTRICT MINISTRY OF EDUCATION, BRUNEI DARUSSALAM. FOR A PERIOD OF THREE (3) YEARS [ BLOCK SECTION CANTEEN 2] CANTEEN SERVICE FOR: PEHIN DATU SERI MAHARAJA SECONDARY SCHOOL, MINISTER OF BRUNEI MUARA DISTRICT MINISTRY OF EDUCATION, BRUNEI DARUSSALAM. FOR A PERIOD OF ONE (1) YEAR [ BLOCK SECTION CANTEEN 3] CANTEEN SERVICE FOR : PEHIN DATU SERI MAHARAJA SECONDARY SCHOOL, MINISTER OF BRUNEI MUARA DISTRICT MINISTRY OF EDUCATION, BRUNEI DARUSSALAM. FOR A PERIOD OF ONE (1) YEAR CANTEEN SECTION 'B' BLOCK 4] CANTEEN SERVICES FOR: MABOHAI PRIMARY SCHOOL, BRUNEI MUARA DISTRICT MINISTRY OF EDUCATION, BRUNEI DARUSSALAM. FOR A PERIOD OF THREE (3) YEARS 5] CANTEEN SERVICE PRICES FOR: PANCHOR MURAI PRIMARY SCHOOL, BRUNEI MUARA DISTRICT MINISTRY OF EDUCATION BRUNEI DARUSSALAM. FOR A PERIOD OF THREE (3) YEARS
Country:
Brunei Darussalam
 
Notice Type:
Tender Notice
Deadline:
11 May 2024
Posting Date:
22 Apr 2024
 
 
 

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