This is a good time to invest for Gulf national oil companies
These govt-linked entities are taking a long-term view and using the global downturn to squeeze suppliers and grab market share
Add BT as a preferred source
London
AS the oil industry tightens its belt after the worst price slump in a generation, the state-owned giants of the Middle East are taking the opposite tack.
Saudi Arabian Oil Co, Abu Dhabi National Oil Co and Kuwait Petroleum Corp are using a record number of drilling rigs and boosting production, a contrast to international companies from Exxon Mobil Corp to Royal Dutch Shell, which are shelving projects and slashing costs.
TRENDING NOW
Jardine C&C selling Singapore, Malaysia dealerships to Indonesia’s Chandra Asri for US$221 million gain
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Stocks to watch: Jardine Cycle & Carriage, Creative Technology, CNMC Goldmine
Malaysia’s Genting posts Q2 net loss despite 14% rise in revenue
