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Sembcorp Marine, the Singapore shipbuilding and repair yard owner, said its business has been substantially affected by Covid-19 slowing work on ships and platforms, including at yards building LNG vessels for bunkering, imports and floating power projects, while the oil price slump has hit orders.
Free ReadThe US Government forecasts that the nation’s liquefied natural gas exports will decline by around 17 percent as 2020 progresses, while overall natural gas output will also drop and nationwide storage will be at record levels by November. LNG exports are expected to decline from an average 5.8 billion cubic…
The Saudi Arabian Oil Co (Saudi Aramco), the biggest crude oil production company and partly responsible for swamping the globe with oil supplies amid a demand plunge, reported a 25 percent drop in first-quarter net income to $16.7 billion from $22.21Bln in the prior-year quarter.
The Japanese oil, gas and LNG company Inpex, operator of the Ichthys LNG plant in northern Australia and developer of the Abadi LNG project in Indonesia, expects consolidated six-month operating income to June 2020 to drop by over 48 percent and plans to take out government loans.