The stock price of PT Elnusa Tbk (ELSA) increased from Rp 173/share to Rp600/share for four months in a row since late January of 2016. Meanwhile, the mining index rebounded after dropping in 2011.
Oil and gas sector is believed to have reached the ‘bottom’ and could not go down anymore. The demand will continue to exist and even to rise, while the supply remains to be limited. Substitution products such as biofuels do not appear to have sufficient capacity and the potential to take over the current market share of oil and gas. Investment and innovation remains to be poured significantly in the development of renewable energy sources.
World oil prices are now nearly US$50 from the previous 30ish, which is also one of the main drivers in the increasing stocks in the oil and gas sector. Moreover, Elnusa is one of the oil and gas services company to be reckoned within the industry, with assets equivalent Rp4,02 trillion.
Source of information: www.idx.co.id
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