FOLLOWING the rebound in crude oil prices over the past two months, oil and gas-related counters are now back in favour with investors. They are now the top bets among pundits because their prospects are deemed to have considerbly brightened up.
Most oil and gas players in Malaysia do not actually have direct exposure to oil prices. The industry has a wide range of business models, and most of the local players provide services to Petroliam Nasional Bhd (Petronas) and other oil majors, comprising Petronas’ production sharing contractors (PSCs) such as Murphy Oil, Shell and ExxonMobil.
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