From The Star – Oil price up and it is good for Malaysia


Taken from the Star, dateline 2010-08-04:

Analysts say this is generally good for nation but it can stoke inflation worries

PETALING JAYA: Crude oil hovered at a three-month high as the weaker US dollar made it cheaper to purchase the same quantity of fuel in other currencies.

Analysts believed a higher crude oil price was generally “good” for Petroliam Nasional Bhd (Petronas) and the country. As a net oil exporter, albeit a small one, the rise in prices will translate into higher earnings from sales overseas, which are under pressure from the ringgit’s 8.4% rise year-to-date.

But the Government also subsidised the bulk of the fuel sold in the domestic market.

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This entry was posted on Tuesday, August 17th, 2010 at 6:00 am and is filed under business opportunity, Malaysia. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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