The Petronas towers in Kuala Lumpur
Southeast Asian nations poised for crucial decade
Future development prospects are mixed across the energy-hungry region
Southeast Asia’s energy needs continue to grow rapidly, and the 2020s are set to be a critical decade for the region’s upstream. Energy demand is projected to rise by 3pc a year this decade, and three-quarters of that increase will be met by fossil fuels, the IEA predicts. Upstream activity in the region is dominated by NOCs with varying approaches and priorities. But governments also need to attract foreign investment and expertise to develop significant projects. And like all developing nations, Southeast Asian countries are seeking to balance that need with the desire to maximise returns on their natural resources, as well as their respective carbon pledges. The regional outlooks for oil
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
