AGP Executive Report
Last update: 10 hours agoHengyi Expansion: The company is targeting a 50% Bruneian workforce for its US$5 billion Phase II refinery expansion, which is expected to lift annual capacity from 8 million to 20 million tonnes. Honeywell will supply process technologies and support. Diversification: Brunei’s non-oil and gas sectors grew to 55% of GDP in 2025, from 46% in 2015, while their share of exports rose from 7% to 60%, largely on the back of downstream petroleum and chemicals. Trade Links: Brunei and India are exploring closer trade in food, pharmaceuticals, healthcare and energy, alongside business exchanges and investment opportunities. Regional Commerce: Singapore and Brunei have agreed to strengthen essential-goods supply chains and recognise each other’s halal certificates. Energy Trade Scrutiny: A report grouped Brunei with India and Türkiye in €1 billion of oil-product exports to sanctioning countries in September, up 43% from August; it estimated €295 million of the three countries’ exports were refined from Russian crude.
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