Sapura Energy CEO: Delays are Inevitable

Malaysia’s largest oil and gas services company Sapura Energy said on Thursday it expects a delay in projects due to the historic rout in oil prices and as widespread coronavirus shutdowns hit demand.

“Delays are inevitable,” Chief Executive Shahril Shamsuddin said in an earnings conference call, adding that it could take 18-24 months for the oil market to recover due to high inventory levels.

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