Base Year
Historical Year
Forecast Year
The Vietnam oil and gas market reached approximately 1,056.31 GJ in 2023. The market is projected to grow at a CAGR of 2.9% between 2024 and 2032. It is estimated to reach a volume of around 1,363.86 GJ by 2032.
| Vietnam Oil and Gas Market Report Summary | Description | Value |
| Base Year | GJ | 2023 |
| Historical Period | GJ | 2018-2023 |
| Forecast Period | GJ | 2024-2032 |
| Market Size 2023 | GJ | 1,056.31 |
| Market Size 2032 | GJ | 1,363.9 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 2.9% |
| CAGR 2024-2032 - Market by Region | Southeast | 3.3% |
| CAGR 2024-2032 - Market by Region | Red River Delta | 2.9% |
| CAGR 2024-2032 - Market by Sector | Upstream | 3.2% |
| 2023 Market Share by Region | Red River Delta | 22.0% |
Vietnam Oil and Gas Market Size
Vietnam Oil and Gas Market Growth
Vietnam Oil and Gas Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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It is estimated that the market reached approximately 1,056.31 GJ in 2023.
The Vietnam oil and gas market is expected to grow at a CAGR of 2.9% between 2024 and 2032.
The market is projected to reach a volume of around 1,363.86 GJ by the year 2032.
The rising demand for downstream oil and gas products, increasing investments towards increasing natural gas production, and rising support from the government are the major drivers of the market.
The key trends aiding the market expansion include the increasing penetration of foreign players in the downstream sector, growing expansion of petroleum refineries, and a shift towards cleaner fuels like natural gas.
Based on sectors, the market is divided into upstream, midstream, and downstream.
The key players in the market are Exxon Mobil Corp., Eni S.p.A, Shell Plc, TotalEnergies SE, Idemitsu Kosan Co., Ltd Jadestone Energy Plc, Essar Oil and Gas Exploration and Production Limited, Vietnam Oil and Gas Group (PetroVietnam), AP SAIGON PETRO, Petrolimex Petrochemical Corporation (Petrolimex), and others.
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