Petronas counters rise on new oil discovery in US Gulf of Mexico | Malay Mail

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KUALA LUMPUR, April 7 — Petronas-linked counters were among the contributors that lifted the FBM KLCI today following an announcement of an oil discovery in the Monument exploration well in the US Gulf of Mexico. It was Petronas’ first entry and discovery in the oil and gas (O&G) operations...

A general view of the Centenario deep-water oil platform in the Gulf of Mexico off the coast of Veracruz, Mexico, January 17, 2014. — Reuters pic

It was Petronas’ first entry and discovery in the oil and gas operations in offshore US Gulf of Mexico. Petronas executive vice-president /chief executive officer of upstream business Adif Zulkifli said the discovery was an encouraging development as the company continues to pursue opportunities beyond Malaysia, in line with Petronas’ three-pronged growth strategy to expand its core O&G business by growing its resource base.

 

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