The Business Times
business-time-50
SUBSCRIBERS

Singapore’s upstream energy plays in negative territory on economic worries

google-preferred-sourceAdd BT as a preferred source
Anita Gabriel

Anita Gabriel

Published Tue, Jan 30, 2024 · 05:00 AM
    • Oil prices this year may be similar to those in 2023, when Brent averaged US$82.50 per barrel, says the US EIA in its recent short-term energy outlook report.
    • Oil prices this year may be similar to those in 2023, when Brent averaged US$82.50 per barrel, says the US EIA in its recent short-term energy outlook report. PHOTO: BLOOMBERG

    THE Singapore Exchange’s (SGX) favourite upstream energy plays – Rex International , Geo Energy Resources and RH Petrogas – began the year on the back foot, declining between 2 and 9 per cent so far.

    Their declining market values against a backdrop of rising oil prices suggest that investors are growing concerned about execution issues and longer-term demand, as recessionary risks stack up.

    Both Rex and RH Petrogas are exploration and production companies. The former has operations in Oman and Norway, and the latter operates in Indonesia. Geo Energy is an Indonesian coal miner.

    Oil pricesGeo Energyrex internationalrh petrogasSpotlight

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    PayPal has struggled despite its storied history as a financial-technology company.

    PayPal plans job cuts as its new CEO pursues turnaround strategy

    Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

    MAS, bank CEOs convene over AI cyberthreats; boards told to own risks, not leave to IT teams

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More