Brunei to launch new downstream petrochemical plant in 2027: minister

BANDAR SERI BEGAWAN, Aug. 7 (Xinhua) -- A new oil and gas downstream project is expected to start operating by 2027 in Brunei, a government minister said at the Legislative Council on Thursday.

The project features a new plant that produces acetic acid and aniline, which is among Brunei's key steps in diversifying its economy, said Haji Mohd Amin Liew bin Abdullah, minister at the Prime Minister's Office and second minister of finance and economy.

The new project is expected to create employment opportunities for locals, according to the minister.

Brunei's GDP saw a 4.1 percent increase in 2024, with the non-oil and gas sector contributing over 50 percent, a rise from 31 percent in 2017. According to Brunei's official statistical classification, downstream petrochemical plants are mainly categorized under the non-oil and gas sector. ■