The Wold Bank’s senior country economist for Malaysia, Frederico Gil Sander, told TOGY last week that, given the fact that a number of large projects under the Economic Transformation Programme were in oil and gas, lower oil prices are expected to dampen such investments, with a negative impact on growth. He added that some investments in oil and gas, for example those involving high extraction costs such as marginal fields, might be delayed in light of lower prices. However, according to Gil Sander, “the outlook for investments in downstream industries [petrochemicals and refining] would not be automatically affected, especially to the extent that lower prices lead to higher demand for petroleum products.”
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