TAKING the cue from US oil and gas (O&G) services giant Halliburton Co’s takeover bid of its rival Baker Hughes Inc, a consolidation in the local scene is probably the way forward, if Petronas’ head honcho is to be taken seriously.
The reason the biggest deal in the global O&G sector since 2010 is taking shape is due to plunging crude prices that has pushed both Halliburton and Baker Hughes to come together to ensure margins are protected.
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