More O&G contract flow seen in second half

Last week, Petroliam Nasional Bhd (Petronas) said it planned to allocate the bigger chunk of its annual capital expenditure (capex) for Malaysian O&G activities to help boost the economy.

PETALING JAYA: More contracts are expected to be awarded in the oil and gas (O&G) sector in the second half of this year despite crude oil price rallying more than 75% since last November to above US$64 per barrel.

AmInvestment Bank said it expected improving prospects in the O&G sector despite weak order flows in the fourth quarter of 2020.