Rising oil price results in rising interest in Malaysian oil and gas counters


Petronas could emerge with rival bids

PETALING JAYA : Rising price of crude oil, which had pierced the psychologically key US$50 per barrel level for the first time this year, is buoying investors’ sentiment in the stock market.

Shares in battered down oil and gas companies including SapuraKencana Petroleum Bhd and Bumi Armada Bhd are off their recent lows on expectation that demand for their services will recover on higher price of crude oil.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , oil and gas , crude , recovery , petronas , stocks , shares , klci , klse , oil , gas ,

   

Next In Business News

Kerjaya wins RM568mil Penang job
Sports Toto unabated by additional service tax as earnings triple in 3Q
BNM provides regulatory flexibility for banks to issue ringgit-denominated sukuk
Bursa Malaysia reprimands, fines former executive director of Advance Information Marketing
Inta Bina gets RM199mil apartment job
NTTD Japan to acquire 58.73% stake in GHL Systems, extends RM1.08/share takeover offer
CCK enters into binding term sheet with Creador
Berjaya Mutual targets RM5bil AUM by 2026
Pesona Metro secures RM410.5mil M&E contract
Takaful Malaysia 1Q24 net profit rises to RM102.29mil

Others Also Read