Shocks in O&G weigh on financial performance

Given the sluggish financial performance, all eyes now are on Malaysia's national oil company Petronas, which is set to announce its second-quarter financial performance on Sept 4.

KUALA LUMPUR: The oil and gas industry is experiencing its third price collapse in 12 years but after the first two shocks, the industry rebounded and business continued as usual.

This time it is different as the current context combines a supply shock with an unprecedented drop in demand for the commodity and a global humanitarian crisis brought about by the COVID-19 pandemic.