GROWTH TARGET OF OIL & GAS PRODUCT EXPORTS ACHIEVABLE IF CRISIS CONTINUES

KUALA LUMPUR, March 24 (Bernama) -- Malaysia's target of double-digit growth in export of oil and gas products this year is achievable if the turmoil in the Middle East continues.
Last year, oil and gas products increase by 24 per cent to RM101.2 billion (US$33.73 billion) from RM81.2 billion (US$27.06 billion) in 2009.
Deputy chief executive officer of Malaysia External Trade Development Corp (Matrade), Dr Wong Lai Sum, the longer the turmoil continued the oil price was expected to increase to US$100 a barrel.
"This will help the country achieve the target growth for the oil and gas products sector," she said at quarterly roundtable discussion on oil and gas sector here Thursday.
Earlier, Matrade director of oil & gas and chemical section, Abu Bakar Koyakutty, said the corporation would organise a delegation comprising oil and gas service providers to the United Arab Emirates, Oman and Kuwait from March 28-April 5.
"The delegation aims to explore business opportunities and further
strengthen bilateral trade and investment relationship between Malaysia and the countries," he said.