Category: Highlights

THE oil and gas (O&G) sector is expected to run into twin headwinds this year, characterised by the volatility in the energy market and the slowdown of the global economy.  One bright spot for Malaysia is Petroleum Nasional Bhd (Petronas) and the overall positive sentiment towards  its activities for 2023-2025, as well as the national oil giant’s third-quarter net profit which almost doubled to RM30.8 billion from the RM16.3 billion reported in 2021.  In its Activity Outlook report for 2023-2025, Petronas high- lighted that uncertainty in the energy market is still…

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Oil and gas producers seemingly have settled on a strategy. OPEC and Russia will limit production and let prices rise during a global war-famine-pandemic. OPEC sets the price umbrella while the Russians discount the price for obvious geopolitical reasons. All other big oil producers adhere to pricing and supply discipline knowing that OPEC’s costs of production are so low that OPEC can undercut any oil producer that ignores pricing discipline. The big US producers say they will not expend capital to increase supply when they lack assurance of continued demand.…

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Guyana’s offshore oil boom continues to gain momentum. It is the ExxonMobil-led consortium operating the 6.6-million-acre Stabroek Block offshore Guyana which stands to benefit the most from what analysts describe as the last great frontier offshore oil boom. The global energy supermajor has made over 32 world-class discoveries in the Stabroek Block and is now pumping 360,000 barrels per day from the consortium’s operations in the Liza oilfield. This is a spectacular development considering that Exxon only made the first discovery in the Stabroek Block in May 2015. The two…

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Growth stocks have been thoroughly hammered this year, with high inflation and rising interest rates pinching growth equities of all stripes. But few stocks exemplify the dramatic shake-up at the top, like leading EV maker Tesla Inc. (NASDAQ: TSLA). TSLA stock has tanked 69.5% in the year-to-date, wiping off a staggering $877 billion from its market cap. In comparison, the S&P 500 has declined a more modest 19.7% over the timeframe. Tesla has gone from being the fifth most valuable public company and now ranks just thirteenth with a market…

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Prime Minister Shahbaz Sharif enjoys the reputation of a doer. He enjoys being known for doing things at speed. His current stint has not allowed him to show much speed given the firefighting jobs his government seems to be doing on a daily basis. Until a bright idea popped up. The rising energy prices that led to an import challenge made renewable energy more appealing than ever before. And right on cue – comes the “Fast Track Solar PV Initiatives 2022”. Not sure if fast-tracking is what Pakistan needs today…

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