Opportunities abound for oil and gas service providers

TheStar Sat, Jan 09, 2021 08:00am - 3 years View Original


Good prospects: MMHE’s West Yard at Pasir Gudang, Johor. The firm is well-positioned to secure the Limbayong floating production, storage and offloading topside fabrication and hull conversion works due to the project’s high local content requirement.

THE recovery in the oil and gas (O&G) sector will be slow and gradual, and uncertainties still linger on the supply side.

A Kenanga Research report says it has retained its 2021 average Brent crude price assumption of US$50 per barrel, and opines that sustained Organisation of Petroleum Exporting Countries (Opec) production cuts are imperative to prolonging oil price’s stability.

The research unit points out that supply side uncertainties include Opec’s commitment to maintain production cuts, the resurgence of Libyan oil which may add up to 1.3 million barrels per day (bpd) of global oil output, the possible lifting of the Iran sanctions under the Joe Biden administration which may reintroduce another one million bpd of oil exports, and a potential jump in shale oil production if oil prices breach past their breakeven point of US$55 per barrel.

...

Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

ALAM 0.025
BARAKAH 0.035
BIMB 2.510
CARIMIN 0.820
DAYANG 2.410
DELEUM 1.330
DIALOG 2.290
FAVCO 2.160
GASMSIA 3.470
ICON 0.785
KENANGA 1.180
KKB 1.640
MHB 0.475
MISC 7.670
MUHIBAH 0.905
PERDANA 0.330
SAPNRG 0.050
SERBADK 0.020
UZMA 1.300
VELESTO 0.295

Comments

Login to comment.