Malaysian oil & gas big boys urge industry consolidation

December 1, 2015

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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Oil and gas service providers cannot afford to be ‘choosy’, says UMW chief

June 27, 2015

Yeah, I can:

Dateline 2015-05-19, TMI:

UMW Oil & Gas Corp Bhd’s (UMW O&G) chief said support service providers in the industry could not afford to be “choosy” as lower crude oil prices led to fewer contracts in the market.

UMW O&G president Rohaizad Darus said the number of contracts available had declined by 30% compared to a year earlier.

“Service providers in the oil and gas industry now cannot be choosy about the work they take,” Rohaizad told reporters after UMW O&G’s annual general meeting here today.

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