The textile production in the Asia-Pacific region has been growing at a healthy rate lately, majorly due to the expanding production activities in countries, such as Indonesia, Vietnam, and Bangladesh. The garment manufacturing and exports in Bangladesh have been on a steady growth path, with the country standing out to be the second-largest garment exporter in the world after China. The garment exports of the country have exhibited a growth of nearly 9% in the fiscal year 2018-2019, further supporting the growth of the country’s economy as well.

Southeast Asia* is an important player in the hydrocarbon industry, being home to a tenth of the world’s natural gas reserves and nearly 3% of the global oil reserves. The region’s share in global natural gas production stood at 16.5% in 2017, slightly up from 16.3% in the previous year, according to data published in the 2018 edition of BP Statistical Review of World Energy. Southeast Asia’s contribution to the global oil production was smaller, with the region accounting for a share of 8.5% in 2017, down from 8.7% in 2016

In spite of opening its oil and gas sector as early as 2003, as of 2018 Colombia’s national government is still the leading incumbent in the sector, thanks to its 88.49% stake in the dominant player, Ecopetrol. The state-owned company continues to lead the sector across all segments, from the upstream where it is directly responsible for 53.3% of the crude oil produced in the country as of 2018, to the downstream where it owns all the major pipelines through its subsidiary Cenit. The oil and gas sector is composed of more than 50 companies, of which 27 account for 96% of the hydrocarbon production and 70% of the exploratory activities in the country as of end-2018, according to ACP, the Colombian Oil Association.

The level of competition in Ecuador’s oil and gas sector is low, with two state-run companies – Petroamazonas and Petroecuador – dominating the production of natural gas and oil derivatives, and accounting for the bulk of crude oil output (77.5% in 2018). Nevertheless, the participation of private companies is set to increase, given the liberalisation measures of the administration of president Moreno in order to attract private investment in the domestic oil and gas sector. Among these include the reinstatement of production-sharing contracts for oil and gas exploration in July 2018 and the launch of new bidding rounds for oil and gas blocks.

In the recent times, the Norwegian oil and gas sector has witnessed major changes across the exploration, development, and production sector. The exploration sector is witnessing major setback, after the biggest party in the country’s parliament withdrew its support for exploration drilling around the Lofoten islands in the Arctic Circle. Around 1-3 billion barrel of crude oil is estimated to be present beneath the island. Upstream companies see drilling in the Lofoten islands as crucial for maintaining petroleum production level, in the coming years.

Oil and gas exploration and production are complex processes. Pertaining to low interest due to the decline in oil prices, during 2014-2016, the oil and gas companies had not invested much into it. However, with the stability in oil prices and ample amount of proven reserves, the companies have started to invest in the market. Indonesia had the highest reserve, followed by Vietnam, as of December 2018. With rise in activities in the upstream sector, the EPC market is likely to grow in the region. The downstream EPC market occupies a major share, owing to the huge cost incurred in the installation of refineries unit. It is followed by the EPC contract of pipelines used in the transportation of crude after exploration, and for the transportation of gaseous products from the refineries. The overall refining capacity in the South Asian countries showed an increase of ~7.37%, during 2011-2018.

The West African region has witnessed a significant number of problems over the past few years, ranging from the Ebola outbreak and changes of government in Gambia, to heightened militant attacks in Nigeria. These were some of the major factors that have constrained or discouraged the exploration activities in the region.  However, with the recovery of oil prices and huge growth in the global gas market, from licensing rounds to offshore deepwater drilling and FLNG developments and oil production, West Africa is set for an intensified oil and natural gas activity in 2019 and beyond.

West African countries, such as Nigeria and Ghana, have witnessed a significant rise in demand for refined fuels, such as gasoline and LPG, on account of strong economic growth, increasing number of vehicle sales, and penetration of LPG in the recent times. However, the West African economy does not produce enough refined products to meet its demand. Hence, it is dependent on imports, supporting differential pricing and refiners’ margin.

In the recent times, the Norwegian oil and gas sector has witnessed major changes across the exploration, development, and production sector. • The exploration sector is witnessing major setback, after the biggest party in the country’s parliament withdrew its support for exploration drilling around the Lofoten islands in the Arctic Circle. Around 1-3 billion barrel of crude oil is estimated to be present beneath the island. Upstream companies see drilling in the Lofoten islands as crucial for maintaining petroleum production level, in the coming years.

The world economy is expected to underpin a solid increase in oil demand. Strong economies are anticipated to consume more oil, and the demand is expected to grow at an average of 1.2 mb/d per year during 2018-2023, oil demand reaching 104.7 mb/d, up by 6.9 mb/d from 2018. India and China, together, are expected to contribute around 50% of the global oil demand by 2023. During the period of downturn, capital budgets were remarkable lower than pre- 2014 level. Many of the integrated oil and gas companies and state-owned firms shifted their focus toward efficiency and adopting best practices.