Highlight

The Covid-19 pandemic resulted in the reduction of oil and gas supply and demand in 2020. However, with increased vaccination rates, it is hoped that the rebound of oil and gas will drive economic activities towards recovery in Q1 2021, when we observed massive oil and gas well explorations. 2021 also represents ASEAN member states’ aspiration to utilise gas as the transitional fuel in achieving a low-carbon economy. Hence many related policies were introduced to make the gas market more competitive, to foster a trading hub, and to enhance innovation in the oil and gas industry.