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CIMB Equities Research said the fire at Petronas Gas's gas processing plant (GPP) in Kerteh will have little impact on earnings as the plant was offline and undergoing planned maintenance at that time.
Shares of Petronas Gas Bhd were the top gainer, surging to a high of RM17.30 in late morning of Thursday, after reporting a strong set of earnings.
Plantations gave the Malaysian market a boost on Tuesday with investors seen picking up plantation stocks after crude palm oil (CPO) prices rose to fresh 13-month highs.
IT has been reported that Petroliam Nasional Bhd (Petronas) has not secured an offtaker for imported gas through the Sungai Udang regas terminal. Petronas Gas Bhd’s (PetGas) management has indicated that it is unlikely to be penalised as it is about to sign a take-or-pay agreement with Petronas.
PETALING JAYA: Petroliam Nasional Bhd (Petronas) is evaluating opportunities for additional regassification projects in Pengerang, Lumut and Lahad Datu after the completion of its Lekas regassification terminal come August.
PETALING JAYA: Some Petroliam Nasional Bhd (Petronas)-linked stocks took a beating, as uncertainties over the eurozone crisis and declining oil prices prompted jittery investors to take profit and unwind some of their positions in markets across Asia.