Reality check for Malaysian oil and gas players

My counter doesn’t retract.

Dateline 2018-01-15, The Star:

Oil and gas (O&G) counters have gained much attention of late following the rise in oil prices.

Since the new year began, O&G stocks that operate in the upstream services segment such as UMW Oil & Gas Corp Bhd (UMW-OG), Sapura Energy Bhd and Bumi Armada Bhd have seen impressive gains of as much as 55% in just two weeks.

But some counters had retraced at least half of their gains by the end of last week.

Notably, they reminded that upstream O&G service players would be the biggest beneficiaries should capital spending return. However, there is no hint of the former happening just yet.

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