OIL services giant Wood Group yesterday outlined how it plans to return £1.05 billion of cash to shareholders in a move which will see the founding family and charities raise at least £123 million by cutting their stake in the company.
WOOD Group, the Aberdeen-based energy services heavyweight, yesterday warned of the potential for clients' projects in the North Sea to be delayed as "field economics" are reassessed in light of the Chancellor's tax raid.
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Wood Group has won a multi-million-pound contract to provide underwater pipeline engineering for a liquefied natural gas development off the coast of Western Australia.
WOOD Group chief executive Allister Langlands pocketed a 15 per cent rise in his pay packet as sales at the Aberdeen-based energy services heavyweight broke through the $5 billion (£3bn) for the first time.
Oil services company Wood Group has been awarded a contract by western Australia's biggest oil and gas operator, the Aberdeen-based business revealed yesterday.
OIL services heavyweight Wood Group has completed the takeover of two engineering businesses in Saudi Arabia to create one of the biggest firms of its kind in the Middle East.
ENERGY services giant Wood Group yesterday hailed a "landmark" deal with Australia's biggest gold miner that will earn the Aberdeen-based company a seven-figure sum over the next five years.
SIR Ian Wood, chairman of Wood Group, hailed the sale of a third of its business and the acquisition of rival PSN as "the two biggest steps" in the history of the firm, as pre-tax profits for the year were down slightly but in line with consensus estimates.
SHAREHOLDERS in Wood Group are in line for a £1 billion-plus cash windfall after it struck a deal yesterday to sell off a third of its business in a move which also sparked fresh takeover speculation.
ENERGY services firm Wood Group is in talks with a number of US-based companies to sell a third of its business in a deal to raise as much as £1.2 billion.
WOOD Group chief executive Allister Langlands has sold a further £2.2 million worth of shares ahead of changes to capital gains tax.
ENERGY services specialist Wood Group said yesterday that it was still on the hunt for " bolt-on acquisitions" as the group's financial performance remained in line with expectations.
MUSTANG, a subsidiary of Aberdeen-based energy services company Wood Group, has been selected by New York-listed Noble Energy to perform engineering design work for the Belinda project off the coast of Equatorial Guinea, in west Africa.
DIRECTORS at Wood Group were together awarded hundreds of thousands of share options last year after difficult market conditions meant they would not hit long-term incentive targets.
FRENCH oil giant Total yesterday renewed its £250 million engineering contract with Wood Group, the Aberdeen-based oil and gas services heavyweight.
WOOD Group said yesterday it had been granted a contract extension by BP for an oil and gas processing terminal, which will preserve 100 jobs in Scotland.
OIL services firm John Wood Group yesterday blamed the "increasingly challenging" Venezuelan market and a 15 per cent global reduction in exploration and production spending for a 31 per cent drop in annual profits.
WOOD Group, the Aberdeen-based energy services company, has won a contract with BHP Billiton to work on expanding a gas project in offshore Trinidad.
WOOD Group, Scotland's largest oil services company, has predicted that spending on new projects will begin to grow again in the second half of 2010.
OIL companies are continuing to sweat their existing production projects, meaning services giant Wood Group is on track to hit market targets this year.