Southeast Asia’s Oil And Gas Output May Never Recover To Pre-COVID Levels

The Covid-19 pandemic has marked the end of an era for Southeast Asia’s combined oil and gas production, pushing the region’s output in 2021 to below 5 million barrels of oil equivalent per day (boepd) for the first time since 1998, a threshold that is not likely to be exceeded again in the future despite new project start-ups in coming years, a Rystad Energy analysis shows.   Daily average hydrocarbon production tumbled to 4.86 million boepd in 2021, down from 5.06 million boepd in 2020, and a massive 12% drop compared to the…