Uncertain outlook for O&G

TheStar Fri, Jun 05, 2020 08:40am - 3 years View Original


However, AmInvestment said the earnings of service providers involved in maintenance and tank storage facilities such as Dialog Group and Serba Dinamik will be resilient against the cyclical nature of industry dynamics.

PETALING JAYA: The oil and gas (O&G) sector is expected to continue to face uncertainty stemming from the coronavirus (Covid-19) pandemic crisis despite the recent improvement in global crude oil prices.

AmInvestment Research expects companies’ earnings to be worse than during the 2015-2017 period that saw multiple financial distress on O&G companies.

“We expect the massive global demand destruction from the uncertain extent and duration of the Covid-19 pandemic to continue depressing industry sentiment extensively in the foreseeable horizon, ” it said in a report yesterday.

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