KUALA LUMPUR: The oil and gas services and equipment (OGSE) industry recorded a significantly lower total industry revenue of RM56.2bil in 2020 (FY20) from RM65.1bil 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 RM4.3bil during the year with an average loss of margin by 9.2%.
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