Tuesday, 24 April 2012

CIMB Research maintains Overweight on O&G equipment and services

KUALA LUMPUR (April 24): CIMB Research has maintained its Outperform rating on the Oil & gas equipment and services sector and said three enhanced oil recovery projects were up for grabs as Petronas keeps things going at home to reverse the domestic production decline.

In a note Tuesday, the research house said the projects should benefit the broader sector although FPSO operators stood to gain more.

“We remain Overweight on the sector, with our top picks being Petronas Dagangan for the big caps and Perisai for the small caps,” it said

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