WHILE many other oil and gas related companies are facing a bleak outlook because of prolonged low oil prices, MISC Bhd expects to be able to maintain its earnings this year. In offshore, MISC held a sailaway of the MAMPU1 (a fit-for-purpose FPSO for marginal fields) on Sept 29. On its petroleum segment, MISC petroleum logistics unit AET has purchased the remaining stake in Paramount Tankers, which it currently owns under a 50:50 joint venture with Golden Energy Tanker Holdings. “Consolidation of a remaining 50% stake in six Paramount Aframax tankers would help to lift petroleum earnings in second half of this year,” says HLIB Research. “Some investors could regard the Canada development theoretically as a new long-term LNG carrier contract opportunity for MISC as it would ship refined gas to Asia.

Source: The Star October 07, 2016 23:48 UTC