Malaysian oil and gas services provider Petra Energy turned to a profit in the first quarter with a net gain of MYR5.3m ($1.2m) from a loss of MYR7m in the previous corresponding quarter, it said in a stock market announcement.
While UMW Oil & Gas Corp (UMW-OG) will achieve full utilisation of its seven jack-up drilling rigs by the second half of this year, the oil and gas (O&G) service provider expects its earnings to remain under pressure due to subdued charter day...
Malaysia's Northport is set to boost its connections in China after signing a memorandum of understanding (MoU) with the China unit of fellow Malaysian conglomerate Sime Darby's Weifang Sime Darby Port to develop a sister port relationship, local...
Malaysia's Petronas is set to enter the market for LNG bunkering, signing an agreement with the Gas4Sea group to identify business opportunities in the supply natural gas as a marine fuel, local reports said.
Malaysia's recently revived Asia Petroleum Hub (APH) project awarded China Railway Engineering Corporation (CREC) a $400m contract for the construction of the oil terminal, local reports said.
Fresh from gaining shareholders' approval for fully acquiring Penang Port, MMC Corp said it will focus on creating value for its port unit in the next one to two years before it considers listing its operations.
The shakeup in the LNG market continues with Petronas saying it may try shorter-term LNG contracts and smaller cargo sizes as it scrambles to cope with oversupplied markets and plunging prices, Reuters reported.
Malaysia is abolishing its 30-year old cabotage law between the east and west of the country from 1 June.
Fast on the heels of its failed consolidation cum fund raising exercise with Icon Offshore and Orkim, UMW Oil and Gas (UMW-OG) is now planning to make a cash call.