he key players in the country's oil and gas industry are BSP, BLNG, Block B Joint Venture, Brunei Shell Marketing (BSM), Brunei Shell Tankers (BST), and Brunei Gas Carrier (BSC) according to the Petroleum Unit of the Prime Minister's Office in their paper at the Global LNG Summit in Washington DC last December 2003.
The biggest of the four is BSP, which is responsible for the exploration and oil production and natural gas as well as oil refining and crude oil trading.
BLNG, meanwhile, concerns with liquefying the gas it buys from BSP as well as arrangements of its transport and sale to customers in Japan and South Korea.
BST charters tankers to BLNG to transport gas to Japan while, BSM markets petroleum products, such as gasoline, diesel, lubricants, and jet fuel. BSM also MANAGES the import and distribution of lubricants, chemicals and bitumen into the country.
The government's interest in the oil and gas industry comes under the auspices of the Petroleum Unit formed in 2001, with the objective, amongst others, to strengthen and to push to jointly spearhead the development of local petroleum industry and to play an active role in the exploration and development of the petroleum industry.
The Petroleum Unit also accelerates economic development based on the domestic petroleum industry.
With the Sultanate's plan for economic diversification away from the dependency on oil and gas as well as natural gas, the Petroleum Unit has allocated a 1 TCF of gas RESERVE for the domestic downstream project such as the Sungai Liang Industrial Park whereby it requires gas to run the industrial park. --Courtesy of Brunei Year