Malaysia's domestic oil and gas order flows improving

Malaysia’s domestic oil and gas order flows improving
PETALING JAYA:
Although global oil and gas exploration and production (E&P) investment is expected to be flat this year, Malaysia is seeing improving domestic order flows, said AmInvestment Bank Research (AmResearch).
Malaysia’s order flows in the first quarter of this year saw a quarter-on-quarter (q-o-q) improvement as listed companies announced contracts valued at RM3.3 billion, a 2.2 times increase from RM1.5 billion in fourth-quarter 2020 (Q4’20).
“Year-on-year (y-o-y), this represents an even more rapid surge of 5.6 times from only RM569 million in Q1’20, which was drastically derailed by the onset of Covid-19 pandemic together with the short-lived Saudi-Russia oil war,” it said.

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