More pressure on O&G players


Dateline 2016-09-05, NST:

MALAYSIA’S oil and gas (O&G) firms are expected to face fiercer competition in the long term even as they improve on cost efficiency  to remain resilient, said analysts.

Kenanga Investment Bank Bhd said O&G service players were facing limited tenders while having to deal with tighter cash flows, unutilised vessels and ballooning debt obligations.

“While we believe the industry is undergoing restructuring, which allows the fittest to survive, we observe that some players have collaborated to tender for jobs far beyond their core competence.

 

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