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Diversification Is Key To Malaysia OGSE Companies' Longterm Survival

Last update: 07/02/2019
KUALA LUMPUR, Feb 7 (Bernama) -- With signs of greater market volatility in 2019, Malaysian oil and gas services and equipment (OGSE) companies must not lose sight of the need to become more diversified to remain competitive.

Whilst oil prices have risen since the beginning of the year, concerns about a supply glut and weakness in the global economy will keep prices on a tight leash, as evident from the general cautiousness of global oil companies and their continuous push for cost efficiencies. “Even as the industry is seeing a gradual recovery in activities, the oil price uncertainty is a clear reminder to OGSE players to stay focused and become more competitive,” Malaysia Petroleum Resources Corporation deputy chief executive officer Mohd Yazid Ja’afar said.

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