Low oil prices fuel demand for mergers and acquisitions in oil and gas sector

For UMW Oil & Gas Corp Bhd (UMW-OG), opportunities to expand are opening up amid falling prices.

PETALING JAYA: Lower oil prices are stoking demand for mergers and acquisitions (M&As) in the oil and gas (O&G) industry even as investors shy away from this once high-flying sector.

For UMW Oil & Gas Corp Bhd (UMW-OG), opportunities to expand are opening up amid falling prices. The cash-rich company is looking to acquire new drilling assets at prices cheaper than what it used to pay.