Photographer: Jonathan Drake/Bloomberg

Most Battered Malaysia Oil and Gas Stock Eyes Foreign Tie-Up

  • UMW Oil & Gas has idled six out of eight drilling rigs
  • President Rohaizad sees slow path to recovery on oil gains

Malaysia’s UMW Oil & Gas Corp. is teaming up with foreign partners for the first time to venture outside of Asia and predicts the slowdown that forced the company to idle most of its drilling rigs may be ending.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.