From Bernama ? Oil And Gas Industry Needs To Undergo Structural Revamp

Dateline 2011-06-06:

The oil and gas industry needs to undergo a structural revamp to keep fuel prices low for its benefit and that of consumers.
?Players in the industry need to have more collaboration on a level playing field as well as compete at the same time,? said Pemandu Chief Executive Officer Datuk Seri Idris Jala in a special address delivered at the 16th Asia Oil and Gas Conference opened by Petronas Chief Executive Officer Datuk Shamsul Azhar Abbas here Monday.
He said there were more opportunities for industry players to collaborate, such as, in the sharing of storage and facilities, that could generate further cost reduction hence offering cheaper fuel products to consumers.
Later at a panel discussion, Idris said the world has to wake up to the fact that its needs fuel and there was a price to pay for it.
?I think many economies today do not put a real price tag on fossil fuel, which makes it difficult for further work to be done in other different industries.

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Source: http://razmahwata.wordpress.com/2011/06/19/from-bernama-oil-and-gas-industry-needs-to-undergo-structural-revamp

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