Kuala Lumpur, May 3 – For the six consecutive years, Malaysia External Trade Development Corporation (MATRADE) in collaboration with Malaysia Petroleum Resources Corporation (MPRC) coordinated the participation of Malaysian companies at the Offshore Technology Conference (OTC) 2017 in Houston, USA happening early this month.\u00a0<\/p>\n
This year, 16 Malaysian companies from the oil and gas sector comprising mostly small and medium enterprises (SMEs) and large corporations including PETRONAS participated in the largest oil and gas trade exhibition, expected to attract over 80,000 oil and gas leaders and experts from around the world.\u00a0<\/p>\n
The objective of Malaysian company\u2019s participation is to showcase capabilities and innovation as well as to look for global business partners among the attendees from nearly 40 countries.\u00a0<\/p>\n
Malaysia Pavilion will highlight the theme of \u201cChoose Malaysia: Your Oil & Gas Partner in Asia\u201d in OTC Houston 2017. Among the products and services being promoted include fittings & flanges, drilling equipment, heat recovery systems, fabrication & repair services, health, safety and environmental consulting services, freight and logistics services, third party engineering inspection and non-destructive testing services.\u00a0<\/p>\n
\u201cMalaysian companies are encouraged to come out with high innovative products, services and technology that can add value in order to be successful in the highly competitive industry especially in the current persistent environment of low-priced oil,\u201d said Ir. Dr. Mohd Shahreen, Chief Executive Officer (CEO) of MATRADE.\u00a0<\/p>\n
Mohd Shahreen who is leading the Malaysian delegation added; \u201cDespite the decline in oil prices for the past few years, MATRADE and MPRC believe that with the capabilities of our companies, Malaysia can maintain its global competitiveness in the oil and gas industry. Malaysian government will continue to push and give full assistance to bring Malaysia\u2019s oil & gas technology and expertise to the world.\u201d\u00a0<\/p>\n
MPRC\u2019s Vice President for Trade and Investment, Ahmad Azwan Ahmad Shukor stated that; \u201cOne of our key focus areas is to promote Malaysian capabilities in international markets, in addition to enhancing Malaysia\u2019s position as the preferred hub for Oil & Gas, Services and Equipment (OGSE) activities in Asia Pacific. A conference like OTC Houston is an effective platform for Malaysian OGSE firms to gain exposure, develop strategic partnerships with foreign OGSE companies and MNCs and assist in potential business ventures in Asia Pacific.\u201d\u00a0<\/p>\n
PETRONAS\u2019 participation comes as Malaysia is gearing up to host the 2018 edition of OTC Asia, the region\u2019s anchor oil and gas technology conference.<\/p>\n
In 2016, Malaysia\u2019s total trade to the United States of America (USA) valued at US$32.78 billion where exports stood at US$19.36 billion and imports, US$13.42 billion. Malaysia\u2019s exports of oil & gas products to the USA were valued at US$122.1 million, an increase of 53.8% over 2015.\u00a0<\/p>\n
The major products exported were crude petroleum oils, fuel oils and jet-fuel. Other oil & gas related products exported includes pipe fittings, tubes, hoses, valves and wellhead christmas tree amounted to US$156.2 million.<\/p>\n
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Kuala Lumpur, May 3 – For the six consecutive years, Malaysia External Trade Development Corporation (MATRADE) in collaboration with Malaysia Petroleum Resources Corporation (MPRC) coordinated the participation of Malaysian companies at the Offshore Technology Conference (OTC) 2017 in Houston, USA happening early this month.\u00a0 This year, 16 Malaysian companies from the oil and gas sector […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-443","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=443"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/443\/revisions"}],"predecessor-version":[{"id":5633,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/443\/revisions\/5633"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}