<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 12): Fitch Ratings expects the generally strong balance sheets of rated companies within the Asia-Pacific exploration and production sector to provide sufficient headroom for investment, despite modest near-term production growth.</p></div>

<div class=newsTextDataWrapInner><p>In a report titled "Asia-Pacific Oil and Gas: Exploration and Production" released on Friday (Nov 12), the rating agency said the production CAGR of 2% for 2016-2020 reflects the benefits of inorganic growth at some companies, offset by natural declines at mature fields and the Covid-19 pandemic-led disruptions in 2020.</p></div>

<div class=newsTextDataWrapInner><p>It said national oil companies' focus on energy security should continue to drive upstream capex over the medium term, despite an increasing emphasis on energy transition.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"We expect independent upstream producers with low reserve lives or weak recent records of reserve replacement to focus on exploratory capex and M&amp;A."</p></div>


Fitch Ratings expects the generally strong balance sheets of rated companies within the Asia-Pacific exploration and production sector to provide sufficient headroom for investment, despite modest near-term production growth.

Strong balance sheets back Asia-Pacific upstream O&G investments, says Fitch Ratings

(May 2): Elon Musk’s latest cost-cutting victims: Summer interns.

Tesla Inc. is rescinding offers just weeks before internships were set to start, prompting aspiring employees to take to LinkedIn to appeal to other employers to take them in.

“At 8:46am, I opened a Tesla email ...

Tesla interns say offers are getting revoked weeks before their start date

(May 2): National Australia Bank Ltd. said it will buy back up to A$1.5 billion (US$1 billion) of its own stock as profit at the lender came in line with expectations.

Cash earnings fell 13% to A$3.55 billion in the six months ended March 31, the Melbourne-based firm said in a statement...

National Australia Bank to buyback US$1 billion as profit dips

(May 2): Alphabet Inc. paid Apple Inc. US$20 billion in 2022 for Google to be the default search engine in the Safari browser, according to newly unsealed court documents in the Justice Department’s antitrust lawsuit against Google.

The deal between the two tech giants is at the heart o...

Google’s payments to Apple reached US$20 billion in 2022, antitrust court documents show

NEW YORK (May 2): U.S. stocks closed mixed on Wednesday after the Federal Reserve left its key interest rate unchanged, as expected, and indicated that while its next move will likely be a rate cut, continued progress on inflation is not assured.

The S&P 500 and the Nasdaq ended low...

S&P 500, Nasdaq end lower after Fed rate decision, Powell press conference

NEW YORK (May 2): A gauge of global stocks fell on Wednesday while the dollar weakened against a basket of peers after the Federal Reserve left interest rates unchanged and indicated it is still leaning toward eventual rate cuts.

But the U.S. central bank put a red flag on recent disapp...

Stocks, dollar decline after Fed holds rates steady

(May 2): Chelsea's bid to make it five Women's Super League titles in a row suffered a huge setback on Wednesday as they lost a 4-3 thriller to Liverpool, seriously denting the possibility of the Blues giving manager Emma Hayes a winning send-off.

Liverpool secured their second successi...

Chelsea WSL title hopes derailed by stunning 4-3 loss to Liverpool

(May 2): Apple's plan to add generative AI to its iPhones and revive sagging sales in the crucial Chinese market will be in focus on Thursday, when the tech giant is expected to report its biggest quarterly revenue decline in more than a year.

Long considered a must-own stock on Wall St...

Apple set for big sales decline as investors await AI in iPhones

DORTMUND, Germany (May 2): Borussia Dortmund's Niclas Fuellkrug fired in a first-half goal to seal a 1-0 victory over visitors Paris St Germain in a compelling Champions League semi-final first leg on Wednesday.

Nico Schlotterbeck floated a pass into Fuellkrug's path and the Germany for...

Fuellkrug earns impressive Dortmund 1-0 first-leg win over PSG

WASHINGTON (May 2): Hackers who breached UnitedHealth's tech unit in February potentially stole a third of Americans' data, the largest U.S. health insurer's CEO told a Congressional committee on Wednesday.

Two Congressional panels grilled CEO Andrew Witty about the cyberattack on the c...

UnitedHealth says hackers potentially stole a third of Americans' data

The government will continue to monitor the impact on inflation in the country following the announcement of a more than 13% increase in civil servants' salaries this December.

Anwar: Putrajaya will keep eye on inflation rate following civil service pay hike

<p>The government will continue to monitor the impact on inflation in the country following the announcement of a more than 13% increase in civil servants' salaries this December.</p>


<p>NEW YORK (May 2): U.S. stocks closed mixed on Wednesday after the Federal Reserve left its key interest rate unchanged, as expected, and indicated that while its next move will likely be a rate cut, continued progress on inflation is not assured.</p>

<p>The S&amp;P 500 and the Nasdaq ended low...

<p>US private payrolls increased more than expected in April, suggesting that the labor market maintained its momentum early in the second quarter.</p>


US private payrolls beat expectations in April 

<p>(May 2): Elon Musk’s latest cost-cutting victims: Summer interns.</p>

<p>Tesla Inc. is rescinding offers just weeks before internships were set to start, prompting aspiring employees to take to LinkedIn to appeal to other employers to take them in.</p>

<p>“At 8:46am, I opened a Tesla email ...

<p>NEW YORK (May 2): A gauge of global stocks fell on Wednesday while the dollar weakened against a basket of peers after the Federal Reserve left interest rates unchanged and indicated it is still leaning toward eventual rate cuts.</p>

<p>But the U.S. central bank put a red flag on recent disapp...

<p>(May 2): Alphabet Inc. paid Apple Inc. US$20 billion in 2022 for Google to be the default search engine in the Safari browser, according to newly unsealed court documents in the Justice Department’s antitrust lawsuit against Google.</p>

<p>The deal between the two tech giants is at the heart o...

<p>(May 2): Apple's plan to add generative AI to its iPhones and revive sagging sales in the crucial Chinese market will be in focus on Thursday, when the tech giant is expected to report its biggest quarterly revenue decline in more than a year.</p>

<p>Long considered a must-own stock on Wall St...

<p>(May 2): National Australia Bank Ltd. said it will buy back up to A$1.5 billion (US$1 billion) of its own stock as profit at the lender came in line with expectations.</p>

<p>Cash earnings fell 13% to A$3.55 billion in the six months ended March 31, the Melbourne-based firm said in a statement...

<p>WASHINGTON (May 2): Hackers who breached UnitedHealth's tech unit in February potentially stole a third of Americans' data, the largest U.S. health insurer's CEO told a Congressional committee on Wednesday.</p>

<p>Two Congressional panels grilled CEO Andrew Witty about the cyberattack on the c...

<p>(May 2): Chelsea's bid to make it five Women's Super League titles in a row suffered a huge setback on Wednesday as they lost a 4-3 thriller to Liverpool, seriously denting the possibility of the Blues giving manager Emma Hayes a winning send-off.</p>

<p>Liverpool secured their second successi...

<p>DORTMUND, Germany (May 2): Borussia Dortmund's Niclas Fuellkrug fired in a first-half goal to seal a 1-0 victory over visitors Paris St Germain in a compelling Champions League semi-final first leg on Wednesday.</p>

<p>Nico Schlotterbeck floated a pass into Fuellkrug's path and the Germany for...