MPRC’s Shahrol Halmi: Don’t be ‘overexcited’ about oil topping US$70

Yeah, pay us little fish at higher rates, then we can get excited together. And don’t swallow.

Dateline 2017-01-23,  The Edge:

Malaysia Petroleum Resources Corp Bhd (MPRC) said oil and gas (O&G) support service providers should not be “overexcited” about the recent rise in crude oil prices above US$70 a barrel. This is because prices of the commodity are still expected to be volatile.

MPRC, an agency reporting to the Prime Minister’s Department, was established to develop the O&G services and equipment (OGSE) industry in Malaysia. MPRC president Datuk Shahrol Halmi said OGSE companies should continue keeping an eye on efficiency in order to address cost while protecting profit margin through implementation of new technologies or integrated solutions.

“The interest in O&G companies is [returning] quite a bit, especially after the Petronas Activity Outlook (2018-2020 report) came out, and after Petronas contract awards recently. [But] the key point to note here is that one swallow does not make a spring.

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