Wan Zulkiflee:
KUALA LUMPUR: National hydrocarbon custodian, Petronas, is urging all players in the oil and gas (O&G) industry to tread carefully and respond cautiously to the unpredictable business landscape.
President and Group Chief Executive Officer Tan Sri Wan Zulkiflee Wan Ariffin said although the industry had been seeing encouraging improvement -- with year-to-date Brent crude price average improving sharply to US$74 per barrel from US$54 per barrel in 2017, increased number of investment and higher number of rig counts, Petronas expected volatility in the industry to continue given the prevailing external factors such as trade war and other geopolitical risks.
“The business models adopted have to be robust to go through price cycles which are inherent in our industry,” he said in his keynote address at the Fourth Malaysia O&G Services Exhibition and Conference (Mogsec) here today. - Bernama
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