Buying opportunity in M’sian O&G sector


Anyone have USD3M they would loan to me riba-free?

Dateline 2014-11-03, The Malaysian Reserve:

Crude oil prices have fallen by about 25% since mid-June to a four-year low. Brent crude futures, which is the leading global price benchmark for oil, dropped below $86 per barrel whereas US West Texas Intermediate (WTI) futures dropped as low as $79.44, the lowest since June 2012.

The negative spillover implications of a sustained period of lower oil prices are detrimental to the whole industry, and could lead to lower corporate earnings, reduced production and loss of jobs.

With oil prices hitting multi-year lows, the oil and gas sector seems to be looking bleaker by the day.

In Malaysia, national oil company Petroliam Nasional Bhd (PETRONAS) is the sole rights owner of all oil revenues.

If Petronas reduces production, it will affect supporting industries such as services provider Sapura Kencana Petroleum Bhd and marine engineering firms like Coastal Contracts Bhd.

Analysts have started to factor in the lower oil prices and have cut earnings forecasts for Malaysian oil and gas related companies.

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This entry was posted on Tuesday, January 13th, 2015 at 6:43 am and is filed under business opportunity, Malaysia, oil and gas. 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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