O&G STOCKS’

New Straits Times - - Business -

sug­gests that Petronas would only need to dish out RM16 bil­lion a year in the next two years for Rapid if the deal is fi­nalised. This would open up more room for do­mes­tic up­stream capex.”

HLIB’s top pick for the O&G sec­tor was Reach En­ergy Bhd, due to the com­pany’s pure-play ex­po­sure to the E&P seg­ment while be­ing a di­rect ben­e­fi­ciary of the grad­ual im­prove­ment in oil prices.

The re­search house has a “buy” call on Reach En­ergy shares with a tar­get price of 83 sen each.

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