THE continued plunge in crude oil prices is expected to put heavy pressure on the profitability of exploration and production (E&P) companies in South and Southeast Asia, primarily those that produce a high proportion of liquids or export crude price-linked liquefied natural gas (LNG), Moody’s Investors Service said.

In its just-released Asia Oil & Gas Quarterly, Moody’s forecast crude oil prices will remain weak in 2015 and 2016 and said it is unlikely that producers will have an effective supply response until at least 2016.

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