The announcement by Petronas on its oil discovery in the Monument exploration well in the US Gulf of Mexico has added a fresh boost to the local O&G stocks, indicating that the national oil company is not slowing down its activities despite the volatility in global oil price.
PETALING JAYA: Petronas-linked stocks were among the top gainers on Bursa Malaysia yesterday following the surge in global oil price by 50% in just one week on the prospect of Russia and Saudi Arabia cutting their production.
At yesterday’s close, Petronas Dagangan Bhd
rose 86 sen to RM20.96, Petronas Gas Bhd climbed 10 sen to RM15.40 and Petronas Chemicals Group Bhd unchanged at RM4.78.
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