Results were weighed down by the drilling services and oilfield services segments that reported lower revenues mainly due to softer time charter rates from drilling contracts and weaker demand for oilfield services
PETALING JAYA: UMW Oil & Gas Corp Bhd (UMW-OG) has sunk deeper into the red in its first quarter ended March 31.
The company posted a net loss of RM104.12mil in the quarter from a net loss of RM65.08mil a year ago on the back of revenue too falling by 15.28% year-on-year to RM74.28mil.
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