Wood Group to slash thousands of jobs amid oil price plunge August 16, 2015 Top oil contractor Wood Group has been forced to slash thousands of jobs as tumbling commodity prices continue to ravage key North Sea producers. The FTSE 250-listed firm cut more than 4,000 jobs in six months, with at least 1,000 in Britain, its half-year results are expected to show tomorrow. Earlier this year, Wood Group [...]
Wood Group is ahead of target on savings plan as it warns on finances June 25, 2015 Oil and gas services company Wood Group said yesterday that its financial performance in the first half of 2015 will be down on the same period in 2014, as a result of the “challenging” conditions in the market. The firm said in a trading update that it is making savings “significantly in excess of [...]
Oil giant BP predicts Opec comeback as Brent crude price rises February 17, 2015 Saudi Arabia and its fellow Opec members are set to make a massive comeback and regain control of the world’s crude oil market, and could be in their previous position of influence as early as next year. The prediction, published by oil giant BP yesterday, is based on growth in America’s production of shale gas [...]
Wood Group hit by oil price drop so will cut $30m February 17, 2015 Aberdeen-based energy service company Wood Group expects to cut back on $30m (£19.5m) worth of expenses in 2015. The company yesterday reported a rise in profit of little under three per cent to $424.4m and saw its revenue go up by 7.8 per cent in 2014. An internal focus on efficiency will help Wood Group [...]
Wood Group brushes off oil price drop fear December 11, 2014 British energy services company John Wood Group yesterday announced that it expects full-year results to be largely in line with expectations – an improvement on last year’s results, and defying fears over possible knock-on effects from the falling price of oil. The announcement comes after expectations arose of a steep fall in oil prices in [...]
Wood Group benefits from contract renewals May 14, 2014 ENERGY services firm Wood Group yesterday maintained its full-year trading outlook and said its performance for the year to date had been slightly ahead of expectations in two of its divisions. Its oil and gas services unit benefited from contract renewals secured in 2013 and continued strong demand in the North Sea. The FTSE 250-quoted [...]