FILE PHOTO: Fires burn in the distance after a drone strike by Yemen's Iran-aligned Houthi group on Saudi company Aramco's oil processing facilities, in Buqayq, Saudi Arabia September 14, 2019 in this still image taken from a social media video obtained by REUTERS
KUALA LUMPUR: UOB Kay Hian Malaysia Research expects upstream oil producers Hibiscus Petroleum, Reach Energy
and Sapura Energy to be direct beneficiaries from the disruption in the oil supply after the drone attacks on Saudi Arabia's oil facilities.
In its strategy report issued on Tuesday it said for Sapura Energy, management guided the SapuraOMV JV upstream earnings will be loss making (regardless of high oil price levels) for several quarters until early FY21 conservatively, when the gas volumes become significant.
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