Analysts: No major changes from Petronas’ cautious approach


Dateline 2017-10-24, Borneo Post Online:

Analysts expect no significant changes from Petroliam Nasional Bhd’s (Petronas) cautious approach to upstream exploration and development expenditures .

According to AmInvestment Bank Bhd (AmInvestment Bank), persistently low asset utilisation levels are anticipated for the medium term in the oil and gas sector as the research firm did not expect any significant change in Petronas’ cautious approach to upstream exploration and development expenditures.

AmInvestment Bank noted that for the second quarter of 2017 (2Q17) to date, contract awards have risen by 15 per cent quarter on quarter (q-o-q) RM2.2 billion largely due to the lumpy award of the RM1 billion Bokor central processing platform project to Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE).

 

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