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Keppel's Exit Of Rig Business May Have Bigger Implications For Singapore's Offshore And Marine Sector

Keppel’s Exit Of Rig Business May Have Bigger Implications For Singapore’s Offshore And Marine Sector
On Jan 28, the world’s largest rig-builder, Singapore-based Keppel Corporation surprised industry players and observers when it announced exiting away from its rig business to pivot to clean energy.
As a result of a long-awaited strategic review, Keppel’s chief executive Loh Chin Hua revealed in the group’s results briefing on Jan 28 that the group will transform its offshore and marine (O&M) unit into “a nimble, asset-light and people-light Operating Company (Op Co)”.
However, Keppel Corp’s decision to withdraw gracefully from the oil and gas sector shouldn’t have come as a great surprise to anyone. ....

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Commentary: Keppel's exit of rig business may have bigger implications for Singapore's offshore and marine sector

Commentary: Keppel’s exit of rig business may have bigger implications for Singapore s offshore and marine sector
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Commentary: Keppel’s exit of rig business may have bigger implications for Singapore s offshore and marine sector
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Commentary
Commentary
Commentary: Keppel’s exit of rig business may have bigger implications for Singapore s offshore and marine sector
The world’s largest rig-builder’s decision shouldn’t come as a surprise though, says David Kuo, as the sun has been slowly setting on a shrinking oil and gas industry.
A worker passes a vessel modified and upgraded by Keppel Shipyard. (File photo: Reuters) ....

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