Kenanga Research said Petronas continued commitment of higher dividends could hamper recovery of the sector locally, especially at a time when other oil majors are cutting dividends globally.
PETALING JAYA: Local oil and gas (O&G) service providers’ earnings could be impacted from the low activity level in the industry as Petroliam Nasional Bhd (Petronas) tightens its spending and delays some of its projects, according to analysts.
This was despite the recent improvements in the global crude oil prices driven by the potential coronavirus (Covid-19) vaccine.
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