Aberdeen-headquartered energy services giant Wood has signed a deal to sell its 7,000-employee built environment business to WSP Global. The deal, with gross proceeds of $1.9 billion, is expected to complete in the second half of this year to WSP, a Canadian engineering services firm. Wood said the proceeds from the sale would be used to reduce the group’s net …
09/03/2022
Big Oil should spend windfall billions on transition, not dividends, says former Wood Group CEO
Oil giants should spend their billions of windfall profits on transition, not shareholder returns, according to the former CEO of Wood Group. The invasion of Ukraine has sent oil and gas prices skyrocketing, which were already climbing steadily and had prompted calls for a windfall tax in the North Sea. Bob Keiller said he has “no problem in normal times” …