O&G counters active on unlikely US rate hike

The contracts were associated with the floating production, storage and offloading (FPSO) vessel Armada Perdana, and the suspension was first announced last June after delays to the bare-boat charter payments as well as irregular payments on the operations and maintenance contract.

PETALING JAYA: Oil and gas (O&G) counters were actively traded on a confluence of factors, which included the US Federal Reserve’s (Fed) likelihood of not raising interest rates soon.

The Federal Open Market Committee meeting is scheduled for Jan 29 and 30. It would be having a subsequent meeting in March.