O&G firms remain upbeat

WHILE day-to-day business operations have undoubtedly become more precarious for local oil and gas (O&G) companies with exposure to the Middle East since hostilities began at the end of last month, most players are adopting cautious confidence, emphasising their own scope of control.

Although contained for now, fighting in Iran is being seen by most analysts to be lasting for several more weeks, even as President Donald Trump calls for more countries to help secure the all-important Hormuz Strait, the narrow strip of water through which roughly 20 million barrels of oil transits daily, or one-fifth of worldwide usage.