Higher PETRONAS capital expenditure to spur sector

UOBKH Research said PETRONAS' domestic capex allocation for 2023-2027 appears “lacklustre” against the 2018-2022 levels of RM101bil.

PETALING JAYA: The higher domestic capital expenditure (capex) allocated by Petroliam Nasional Bhd (PETRONAS) for the next five years implies that activities in the oil and gas (O&G) sector will remain robust over the medium term.

This should benefit many O&G companies in Malaysia, and will likely continue to support investors’ interest in the sector.