A sign for a Petroliam Nasional Bhd. (Petronas) gas station stands near the Petronas KLCC Twin Towers in Kuala Lumpur, Malaysia, on Saturday, Nov. 7, 2009. Oil companies seeking to bid in three new projects as minority partners in Venezuela's Orinoco Belt are forming at least five teams, Reuters reported, citing people it didn't name. Photographer: Goh Seng Chong/Bloomberg
PETALING JAYA: Crude oil prices are likely to stay elevated but the sector has yet to fully price in the positives.
A recovery play of some stocks in the oil and gas sector is possible, more so with the market expecting Petronas capital expenditure (capex) to normalise to the range of RM40bil-50bil per annum for the coming few years.
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