Malaysian oil & gas big boys urge industry consolidation


And us small fry are caught in the mating motions of giants.

Dateline 2015-10-19, Seatrade Maritime News:

Malaysian oil and gas (O&G) industry leaders called for sector consolidation amid a highly competitive environment and soft crude oil prices, local reports said.

Industry players have said there is a need for the highly fragmented 3,700 O&G service companies and eight fabrication yards in the country to amalgamate to emerge stronger to compete with the best in the Asean region. Notably, the call came from among the biggest players in the industry.

UMW Oil & Gas president Rohaizad Darus reportedly agreed with Petronas president and group ceo Wan Zulkiflee Wan Ariffin’s exhortation for the fragmented and congested market to consolidate imminently.

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