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
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
