Chevron (CVX) enters into an agreement with Sembcorp Marine to reduce the carbon intensity of its LNG fleet operations. Per the agreement, Sembcorp will help Chevron in installing new technologies aboard the company's vessels to support its energy transition goals.
Vietnam is in talks with Singapore's Sembcorp to build a submarine power transmission line between the two countries, the Vietnamese government said on Friday. The announcement was made after a meeting between Prime Minister Pham Minh Chinh and Semcorp deputy chairman Tow Heng Tan in Singapore earlier in the day. Sembcorp Utilities and a unit of Vietnam's state oil firm PetroVietnam on Friday also reached an agreement to develop offshore wind projects to export electricity to Singapore, the government said in a statement, without elaborating.
Singapore's Keppel Corp posted a steeper-than-expected drop in annual profit on Thursday hurt by its urban development unit, but forecast China's easing market conditions and policy support to the real estate sector would boost market sentiment. The conglomerate, which traces its roots to a small ship repair yard corporatised in 1968, said its urban development unit of took a hit by slower home sales and lower contributions from its China trading projects, as well as lower fair value gains from investment properties.