KUALA LUMPUR: The oil and gas services and equipment (OGSE) industry recorded a significantly lower total industry revenue of RM56.2 billion in 2020 (FY2020) from RM65.1 billion in 2019 as the overall oil and gas industry was badly hit by low oil prices and COVID-19.
The Malaysia Petroleum Resources Corporation (MPRC) said the total revenue recorded in 2020 was contributed by 1,328 OGSE companies, which registered a pre-tax loss of RM4.3 billion during the year with an average loss of margin by 9.2 per cent.
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