The Political Economy of Oil

Abstract

The nature and progress of development planning in the state has been of considerable significance in shaping the evolving political economy of Brunei both domestically and in the international context. Oil and gas — its production, processing, role in the generation of income and wealth and concomitant international linkages — have been fundamental in shaping the political development of the state and securing its future. Domestic and foreign policy in Brunei has both shaped and reflected the changing economic and political position of the country since the first oil price rise and the achievement of independence.