Date line 2009-03-07 (story link here):
By TEE LIN SAY
THE economy is going through one of its bleakest times, with oil prices at basement levels of US$40 to US$45.
Not surprisingly, Malaysian oil and gas service support companies aren’t spared and this has been reflected in their fourth quarter results.
On a combined basis, it would appear that oil and gas (O&G) companies underperformed, with combined net earnings declining by some 182% on a quarterly basis.
Nonetheless, a huge chunk of this disappointment was due to poor performances by Ramunia Holdings Bhd, Shell Refining (Federation of Malaya) Bhd, Petronas Gas Bhd and Petra Perdana Bhd. In the case of Shell, it suffered a single quarterly loss of RM523.11mil due to margin pressures.
Ramunia continued with its loss making streak by reporting a net loss of RM71.3mil for the fourth quarter ended Oct 31, 2008. For the full year, Ramunia made a net loss of RM279.8mil.
Generally, the bulk of companies which underperformed, attributed their losses to provisions, cost overruns, inventory loss and lower product demand. It wasn’t a sea of disenchantment. There were the outperformers too.
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Wata - Malaysian Oil and Gas Engineer 
Well…..lets hope we can all ride it out….
I hope it drops to USD20. my evil scheme will start to work then.