He adds that these companies are expected to maintain robust financials this year as oil and gas prices remain high.
UOB Kay Hian analyst Adrian Loh has maintained his “overweight” rating for the oil and gas sector, with most of Singapore’s oil-related companies performing well in 2021.
A majority of Singapore’s diverse range of oil-related stocks in both upstream and downstream sectors generated strong positive free cash flow in 2021; half of them were in a net cash position as at end-2021, the analyst notes.
