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PETALING JAYA: The rejuvenation of existing oil fields, the development of marginal ones, the intensification of exploration activities and the building of a regional oil and gas storage as well as trading hub remain some of the goals of the oil, gas and energy National Key Economic Area (NKEA).
Given the current oversupply situation in the jack-up rigs market, HLIB Research expects the challenging outlook to continue through 2016. It expects UMW Oil & Gas’ second half financial year ending Dec 31, 2015 results to be weaker, given lower utilisation and charter rates.
PETALING JAYA: Oil and gas (O&G) stocks continued to be the focus on Bursa Malaysia and saw some declines yesterday, tracking the movements of the broader oil markets.
PETALING JAYA: The recent surge in oil and gas (O&G) counters is fizzling out as new data indicates that the industry’s fundamentals still have some way to go before it catches up with the recovery in sentiment recently, say analysts.