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Dateline 2014-10-31, The Star:
Malaysia’s oil and gas (O&G) sector could very well remain immune to falling oil prices as it continues to be bolstered by monies flowing from Petroliam Nasional Bhd (Petronas).
CIMB Research said it expected Petronas’ spending to continue flowing to refiners as well as O&G service companies.
It also said the shale gas revolution, which was one of the contributing factors for the decline in the oil price, was positive for liquefied natural gas (LNG), liquefied petroleum gas and ethane shipping products.
This would translate into stronger order prospects for gas carriers and product and chemical tankers, CIMB Research said.
Brent crude, the global benchmark, declined to US$82.60 a barrel on Oct 16, the lowest in almost four years.