Oil & Gas Sector Growth to Continue to 2012

Friday, May 12, 2006
Record high oil prices have sent the shares of companies in the offshore and marine sectors rallying up an average of 16.5 percent year-to-date. But analysts spoke to say there is still upside potential, citing factors like strong demand for offshore rigs, which may result in the order books of key beneficiaries like Keppel and SembCorp pushing out to 2012 and beyond. The Singapore stock market may have repeatedly tested new highs in recent weeks, but oil and gas related stocks have done even better, ChannelNews Asia reported. SembCorp Industries, for instance, has outperformed the benchmark Straits Times Index by some 8 percent and Keppel Corp by an even higher 25 percent. Keppel is more exposed to the marine industry, which accounts for about 70 percent of its total earnings. Oil and gas contributes 30 to 35 percent of SembCorp's profits. But some analysts see more upside largely because of the positive outlook for rigs, and floating production, storage and offloading (FPSO) vessels. And the demand for rigs continues unabated. Both Keppel and SembCorp have orders for 50 jack-up rigs and 15 semi-submersibles cumulatively, stretching their order books till 2009. Analysts say another 100-odd new rigs are needed in the next few years, potentially pushing their order books to 2012 and beyond. (Source: ChannelNews Asia)
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Statoil, Repsol, ExxonMobil Win Colombian Offshore License

Statoil announced today that it has been awarded interest in the COL4 license offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round, along with Respol and ExxonMobil.

Oil Companies Bidding for Blocks in Colombia

Oil companies were bidding on Wednesday for 95 oil areas Colombia is offering for exploration and production in an effort to raise output from around 1 million

Ocean Mineral Singapore Set for Seabed Exploration

Ocean Mineral Singapore Pte. Ltd. (OMS) has received approval from the International Seabed Authority (ISA) on its application for its first seabed exploration licence.

 
 
Maritime Contracts Maritime Security Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1604 sec (6 req/sec)