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Oil And Gas Industry In Malaysia

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Malaysia is one of the world’s significant oil and gas producers. Malaysia holds the world’s 28th largest crude oil reserves with proven oil reserves of 4 billion barrels. Malaysia is also the world’s 13th largest natural gas reserves with a 33 capacity of 2400 billion cubic meters. Regarding to this, the development of oil and gas industry in Malaysia bring some impact to us. Mining in the past few decades in the oil,it brings some effects on economic, social and environment to some developing countries led to a huge problem. As one of the nation's main commodities, oil and gas has a very strong impact on the Malaysian economy. Our Oil and Gas team with its industry professionals and worldwide capabilities is ideally placed to help companies …show more content…
First, gasoline, diesel and other oil products, which itself is part of the CPI and PPI, oil prices will directly affect these prices; secondly, changes in oil prices will gradually affect output prices of petrochemical, transportation and other industries, and in the longer the lag affect the relationship between input and output by almost all products and services prices. Therefore, if the oil price change is permanent, it will not only affect the overall inflation in the short term (also translated as headline inflation, ie headline inflation), will eventually affect the core inflation (excluding food, inflation in oil prices after the impact) . Third, changes in oil prices can affect inflation expectations, and is expected to act as a "speed up" oil prices to core inflation conduction role to some …show more content…
For a long time, low energy efficiency, irrational allocation of energy products, relatively low energy prices, resulting in excessive energy consumption, serious waste and lead to serious environmental pollution problems, energy prices have to reform must be to the point. However, due to the energy related to people's livelihood, energy price reform should give full consideration to the general population, especially low-income people can afford. In addition, from the previous energy price reform, due to the timing of immature and too extensive ways, the result of multiple causes of the price reform of energy prices, some residents of a backlash. Today, the international crude oil market supply exceeds demand, prices continued to fall and thus driving down prices, energy price reform are to provide a larger buffer

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