The FPSO Armada Sterling – one of Bumi Armada’s fleet vessels.
THE inking of Bumi Armada Bhd
’s ten-year RM4bil Madura floating production storage and offloading (FPSO) contract is timely.
Bagging the contract might have helped improve sentiment surrounding the stock but was not enough to stem the selling pressure in the oil and gas universe after news that projected world demand for oil was cut yet again as crude oil continued its slump.
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