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Oil & Gas Exp & Prodn Industry: Time for some bottom-fishing – Inititaion

Company Note 28/03/2019    199

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  • Midterm reinvestment economics requires crude oil price to stay at US$60-70/bbl, based on our estimates.
  • We expect Vietnam to scale up oil and gas exploration, as national energy security is under threat.
  • We initiate coverage on the oil and gas sector with a Neutral rating. Upstream oilfield services stocks, namely PVS and PVD, are our top picks.

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