Contract delays and lower margins will continue to hurt oil and gas companies’ performance in the second quarter of this year, said BIMB Securities Research.
Companies like UMW Oil & Gas Corp Bhd posted weaker than expected earnings in the first three months of 2015 as a drop in the price of crude oil forced the company to give discounts to some of its clients.
BIMB Securities Research said the first quarter 2015 results have shown a clearer picture on the impact of low crude prices to companies’ financial performance with margins affected by slower contract execution, adding that further delays in major contracts were expected amid the revision of existing projects.
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Companies like UMW Oil & Gas Corp Bhd posted weaker than expected earnings in the first three months of 2015 as a drop in the price of crude oil forced the company to give discounts to some of its clients.
BIMB Securities Research said the first quarter 2015 results have shown a clearer picture on the impact of low crude prices to companies’ financial performance with margins affected by slower contract execution, adding that further delays in major contracts were expected amid the revision of existing projects.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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