Need to make that move out of the Malaysian O&G market..
Dateline 2011-10-25:
Most local oil and gas (O&G) players are strong enough to hold their ground should a change in Petroliam Nasional Bhd’s (Petronas) licensing system result in more foreign competition. But marginal companies could see their piece of the pie getting smaller and the race for contracts get even tougher.
Pending further details, the sector remains an “overweight”. Also intact are all our stock recommendations, earnings forecasts and target prices. Our top picks are Petronas Dagangan Bhd for the big caps and Perisai Petroleum Teknologi for the small caps.
We are surprised by the possibility of the national oil company doing away with its current practice of awarding licences only to local O&G companies in certain job categories, as reported by The Edge at the weekend. This will make it harder for smaller companies to compete, but our industry checks indicate that the proposal is still very much preliminary.
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Wata - Malaysian Oil and Gas Engineer 