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Will many Vietnamese people be surprised to learn that Vietnamese crude oil is not the most valuable oil in Southeast Asia even though it was once the pride of the national oil and gas industry?
In the oil and gas industry, not every barrel of oil has the same value. Two indicators that determine the value of crude oil include API level and sulfur content.
The higher the API
✔ The lighter the oil
✔ Easy to exploit petroleum products
✔ Lower petrochemical refining costs
The lower the sulfur
✔ Few impurities
✔ Reduce processing costs
✔ More environmentally friendly
According to popular technical data in the industry, Malaysia and Brunei currently possess the highest rated crude oils in Southeast Asia.
Southeast Asia Crude Oil Quality Comparison Table
Country Typical Oil Type API Sulfur
Malaysian Tapis Crude ~43° ~0.05%
Brunei Brunei Crude ~40° ~0.10%
Indonesia Minas Crude ~30° ~0.10% - 0.50%
Vietnam Bach Ho ~31° - 36° ~0.20% - 0.60%
Myanmar Various ~25° - 32° ~0.50% - 1.50%
Commercial Value Rating
Country Review
Malaysia ⭐⭐⭐⭐⭐
Brunei ⭐⭐⭐⭐⭐
Indonesia ⭐⭐⭐⭐
Vietnam ⭐⭐⭐⭐
Myanmar ⭐⭐
Malaysia has long been famous for Tapis Crude oil. This type of oil is extremely light, extremely sweet and is often traded at a higher price than many standard oils on the international market.
Although Brunei has a smaller production scale, its oil quality is still among the top in the world. Oil refineriesu really like this type of oil thanks to its high fuel conversion efficiency.
Where is Vietnam in the Game?
Vietnam owns the famous Bach Ho mine off the coast of the Southern region.
Strengths
✔ Stable quality
✔ Relatively high API
✔ Sulfur content is lower than many heavy oil sources in the world
✔ Suitable for many Asian refineries
However, if placed next to Malaysian Tapis oil or Brunei oil, Bach Ho oil still does not have the same lightness and sweetness.
That makes the international selling price often one level lower.
Why Is High Quality Oil Important?
A refinery processing 100,000 barrels of oil per day can save millions of dollars each year if it uses light, low-sulfur oil.
Benefits include
Recover more gasoline
⚙️ Reduce energy consumption
Reduce environmental treatment costs
Increase factory profits
Future Race
While Malaysia and Brunei are maintaining their position in high-quality oil, Vietnam has advantages in geographical location, offshore exploitation infrastructure and increasingly modern petrochemical refining system.
New offshore projects and advanced exploitation technology can help Vietnam's oil and gas industry increase resource value in the coming years.
The biggest controversial question today
If you only consider the quality of crude oil, do you agree that Malaysia is the country that owns the most valuable "black gold" in Southeast Asia, or does Vietnam still have a chance to surpass it in the future?
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