Brunei's Oil Export Capacity: Barrels Per Day

Brunei's economy is heavily reliant on exports of crude oil and natural gas, with the petroleum sector accounting for over half of its GDP. The country is the third-largest oil producer in Southeast Asia, with an oil production of around 93 thousand barrels per day in 2023. This figure has seen a decline in recent years, with the country exporting 109,747 barrels per day in 2016, according to some sources. However, other sources state that the country's oil production peaked in 1979 at over 240,000 barrels per day, and has since been deliberately reduced to prolong oil reserves.

Brunei's oil exports in 2016

In 2016, Brunei Darussalam produced 121,034.39 barrels of oil per day, ranking 45th in the world. This was equivalent to 4.0% of its total proven reserves. The country exported 91% of its oil production, which amounted to 109,747 barrels per day.

Brunei's economy is almost entirely supported by exports of crude oil and natural gas, with revenues from the petroleum sector accounting for over half of its GDP. The country is the third-largest oil producer in Southeast Asia, averaging about 180,000 barrels per day. It is also the ninth-largest producer of liquefied natural gas worldwide.

Brunei's oil production peaked in 1979 at over 240,000 barrels per day. Since then, production has been deliberately cut back to extend the life of oil reserves and improve recovery rates. Petroleum production currently averages some 200,000 barrels per day.

Japan has traditionally been the main customer for Brunei's oil exports, but its share has decreased over time. In contrast, oil exports to South Korea have increased, with the country becoming the second-largest supplier after Japan. Other major customers include Taiwan and the countries of ASEAN.

Oil production in 2023

Oil production in the small and wealthy nation of Brunei is a vital part of its economy, along with natural gas exports. In 2023, Brunei's oil production stood at around 93,000 barrels per day, a similar level to the previous year. This is a notable decrease from 2014 when the country was producing 126,000 barrels per day. Brunei is the third-largest oil producer in Southeast Asia, and its oil exports account for over half of its GDP.

The country's oil production peaked in 1979 at over 240,000 barrels per day, but since then, production has been deliberately cut back to extend the life of oil reserves and improve recovery rates. In 2020, Brunei's oil production averaged some 200,000 barrels per day. The country's oil reserves are expected to last until at least 2035, and deep-sea exploration may find new reserves, although this can be expensive.

Brunei's economy is heavily reliant on its oil and gas industry, with oil and gas accounting for almost all exports. The government has made efforts to diversify the economy, with some success in industries like agriculture, forestry, fishing, and banking. However, oil and gas still dominate, and the country is vulnerable to fluctuations in petroleum prices.

Brunei's oil production and exports are managed by Brunei Shell Petroleum (BSP), a joint venture between the Brunei Government and the Royal Dutch/Shell group. BSP operates the country's only oil refinery, which has a distillation capacity of 10,000 barrels per day, meeting domestic demand for petroleum products.

Brunei's oil exports to the US

Brunei's oil exports vary year on year. In 2016, the country exported 91% of its oil production, which amounted to 109,747 barrels per day. This made it the 45th largest oil producer in the world.

In 2023, Brunei's oil production stood at 93 thousand barrels per day, a decrease from 126 thousand barrels per day in 2014. This data indicates a downward trend in oil production in Brunei over the past few years.

While the data does not specify the exact amount exported to the US, it is clear that Brunei is a significant exporter of oil, with 91% of its oil production exported in 2016. The US is a major player in the global oil industry, and it is likely that a portion of Brunei's oil exports ends up in the US market.

The US has, in the past, restricted the export of crude oil to a specific set of conditions. Prior to December 2015, crude oil exports from the US were restricted to crude oil derived from fields in Alaska, certain domestically produced crude oil destined for Canada, shipments to US territories, and California crude oil to Pacific Rim countries. These restrictions were lifted in December 2015 when the US enacted legislation authorizing the export of US crude oil without a license, except for embargoed or sanctioned countries.

Oil exports to South Korea

Brunei's oil exports to South Korea have decreased in recent years. In 2017, the main products exported from Brunei to South Korea were petroleum gas ($191 million), crude petroleum ($62.5 million), and nitrogenous fertilizers ($7.88 million). In 2022, Brunei exported $278 million worth of goods to South Korea, with petroleum gas and crude petroleum still the top exported products.

In 2019, Brunei was the third-largest oil producer in Southeast Asia, with a daily average production of about 180,000 barrels. The country's overall oil production has declined in recent years, with 2023 levels remaining the same as in 2022 at 93,000 barrels per day. This is a significant decrease from 2014 when the country produced 126,000 barrels per day.

Brunei's economy is heavily dependent on exports of crude oil and natural gas, with revenues from the petroleum sector accounting for over half of its GDP. The country has proven oil reserves of 1,100,000,000 barrels, ranking 39th in the world. While Brunei's oil exports to Japan have traditionally been its most significant, this has changed in recent years with South Korea and other countries increasing their share.

Oil reserves in 2016

As of 2016, Brunei Darussalam holds 1,100,000,000 barrels of proven oil reserves, ranking 39th in the world and accounting for about 0.1% of the world's total oil reserves. This means that Brunei has proven reserves equivalent to 188.4 times its annual consumption. At current consumption levels and excluding unproven reserves, there would be about 188 years of oil left without net exports.

In 2016, Brunei Darussalam consumed 16,000 barrels per day of oil, ranking 151st in the world for oil consumption. This accounted for about 0.0% of the world's total consumption. On a per capita basis, Brunei Darussalam consumed 1.57 gallons of oil per person per day, or 574 gallons per capita per year (14 barrels).

In terms of production, Brunei Darussalam produced 121,034.39 barrels of oil per day in 2016, ranking 45th in the world. The country exported 91% of its oil production, equivalent to 109,747 barrels per day in 2016.

Brunei's economy is almost entirely supported by exports of crude oil and natural gas, with revenues from the petroleum sector accounting for over half of its GDP. The country is the third-largest oil producer in Southeast Asia, averaging about 180,000 barrels per day. However, its oil production has been deliberately cut back since its peak in 1979 of over 240,000 barrels per day to extend the life of oil reserves and improve recovery rates.

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