WHILE there are headwinds in the global oil and gas industry, marine conglomerate Keppel Corp has not seen any withdrawal or cancellation of rig orders, chief executive officer Loh Chin Hua said on Friday.
"There are headwinds, but so far, we are ok,'' Mr Loh said at a briefing with analysts and the media.
Chow Yew Yuen, CEO of Keppel Offshore & Marine, added that the company has not received any requests to re-negotiate payments. But there have been a few requests to delay the delivery of two projects.
On the sharp drop in global oil prices, Mr Chow does not believe oil prices will continue to stay at current levels, but instead will move to a level that will allow supply and demand to reach an equilibrium.
Keppel Corp says receives requests to delay two projects
Reuters Friday, Jan 23, 2015 SINGAPORE - Singapore's Keppel Corporation Ltd, one of the world's largest offshore drilling rig builders, said on Friday it had received requests to delay the delivery of two offshore and marine projects.
Yew Yuen Chow, chief executive officer of Keppel Offshore & Marine, told an earnings briefing no agreement had been reached on the issue. He did not give any details on the clients requesting the delay.
Chow also said Keppel was currently not renegotiating payment terms with any clients. On Friday, Keppel reported a 2 per cent increase in 2014 net profit.
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WHILE there are headwinds in the global oil and gas industry, marine conglomerate Keppel Corp has not seen any withdrawal or cancellation of rig orders, chief executive officer Loh Chin Hua said on Friday.
ReplyDelete"There are headwinds, but so far, we are ok,'' Mr Loh said at a briefing with analysts and the media.
Chow Yew Yuen, CEO of Keppel Offshore & Marine, added that the company has not received any requests to re-negotiate payments. But there have been a few requests to delay the delivery of two projects.
On the sharp drop in global oil prices, Mr Chow does not believe oil prices will continue to stay at current levels, but instead will move to a level that will allow supply and demand to reach an equilibrium.
Keppel Corp says receives requests to delay two projects
ReplyDeleteReuters
Friday, Jan 23, 2015
SINGAPORE - Singapore's Keppel Corporation Ltd, one of the world's largest offshore drilling rig builders, said on Friday it had received requests to delay the delivery of two offshore and marine projects.
Yew Yuen Chow, chief executive officer of Keppel Offshore & Marine, told an earnings briefing no agreement had been reached on the issue. He did not give any details on the clients requesting the delay.
Chow also said Keppel was currently not renegotiating payment terms with any clients. On Friday, Keppel reported a 2 per cent increase in 2014 net profit.