Member Info for Diver169

Wood Group has won a new five year contract with BP-operated projects, valued at $500 million, to deliver services to eight facilities, offshore Azerbaijan. Effective immediately, Wood Group PSN (WGPSN) will provide engineering, procurement and construction management services (EPCM) under the contract, which has the option of two, two year extensions.

Spare a thought for the families of those killed in this terrible accident today's...the dangers of recovering the black gold! http://www.bbc.com/news/world-europe-36169929

All he has done is set the bean counters free on a cost cutting exercise! Selling off assets, cutting Capex budgets and putting thousands of highly trained people out of work. If POO does bounce back by the year end, it will be interesting to see how many people they get back! But yes he is painting a nice picture for investors.

It's only a blood bath for those that work for them, job cuts, pay freeze, terms and conditions cut! Meanwhile the fat cat gets fatter and the shareholders keep the divi. I see more to come later this year so it's not over yet. And that's not including the continued costs of GoM liability!

Oil majorette, Where are you reading about this rumoured riser disconnect? I would like to have a read of the incident, I can't find anything in the public domain. GLA the results will at least let us know how this year is shaping up, I fear it's not good.

Long way to go to get back to my 22p average! I want some good news before I average down on this dog of a share! GLA

That is a worry! Why are they steadily rising And BP drifting a few % each way? Did the BG deal make that much of a difference or is something up at BP? Time will tell. GLA

The Board is surprised by this Requisition given that the Company's overall performance has been strong and significantly ahead of previous market expectations. The share price has also risen strongly over the past 12 months. The Board does not believe that the actions proposed would be in the best interests of CPP's customers, employees or other shareholders. The Company plans to release its financial results for the year to 31 December 2015 on Thursday 24th March 2015. The results will show a continuing improvement in performance with profits materially higher than those reported in H1, reflecting a significant turnaround in performance under current leadership. The results will be accompanied by details of new product developments which are well advanced and will be launched in Q2 2016.

tely £13.5 million (2014: £15.2 million), with the Company expecting to report a substantial year on year improvement in full year Earnings Before Interest and Tax ("EBIT"), with EBIT of approximately break-even compared to 2014: loss £1.7 million. The substantial improvement in EBIT reflects the Company's focus on production efficiencies. TPS's investment in product development continues in order to drive future growth. Included within these expected results is a one off provision expense booked in the final quarter's results of approximately £0.5 million for warranty repair to a fault within motor units delivered to a customer during 2013 to 2015, affecting one single customer specific product. It is expected that the cash impact will be mainly in the first half of 2016. Cash at 31 December 2015 was £0.5 million (31 December 2014: Net Debt £9.9 million). On 12 November 2015 the Company announced that as part of seeking to facilitate the Strategic Review, Tao Sustainable Power Solutions (UK) Ltd ("TAO UK"), which owns 89.4% of the issued share capital of the Company, has waived the entire outstanding loan of £10.5 million and all unpaid accrued interest of £1.9 million. TAO UK agreed this waiver for the potential benefit of all TPS shareholders. Additionally, the Company is pleased to announce that it has won a £1m contract from Porterbrook, one of three major UK rolling stock leasing companies. The scope of work, expected to be delivered in 2016 and 2017, includes the manufacture of battery chargers for Porterbrook's Class 170 Turbostar Diesel Multiple Units ("Turbostar"). Currently there are more than 500 existing Turbostars operating in various fleets across the UK including; Abellio Greater Anglia, Abellio ScotRail, CrossCountry, First TransPennine Express and London Midland. The Turbostars use batteries to support both the low voltage standby and emergency circuits. To obtain the longest life and minimum maintenance periods for these batteries, the charging voltage needs to be controlled within close limits. The TPS battery chargers for Porterbrook's Turbostars will provide a stable power supply, throughout the trains' lifetime, and feed all of the car's low

More tea?

Is anyone still stuck in here like me???

The Rosyth business Team are being rewarded for their growth of the business. It's in good hands now. Babcock International Group PLC (Babcock or the Group) Babcock announces CEO succession Babcock, the UK's leading engineering support services company, today announces that Peter Rogers will retire on 31 August 2016. Peter was appointed Chief Executive of the Group in August 2003. During his 13-year tenure Babcock has grown from a small cap business to a FTSE 100 company with a turnover of £4.5 billion in 2014/15, delivering an increase of some 1200 per cent in total shareholder return over the period. The Board is pleased to announce that Archie Bethel will succeed Peter as Chief Executive. Currently Chief Executive of the Marine & Technology division, Archie has been an integral part of Peter's senior management team since joining Babcock in 2004 and has overseen the successful development and growth of the Group's Marine & Technology business both in the UK and overseas. To ensure a smooth handover of responsibilities, Archie will take the role of Chief Operating Officer from 1 April 2016 until Peter's retirement. The Board is also pleased to announce that Archie will be succeeded by John Howie who is currently Managing Director of Naval Marine with responsibility for the management of Babcock's submarine, warship and naval base operations, and a member of the divisional executive. John will take the role of Chief Executive of the Marine & Technology division with effect from 1 April 2016, and will join the Group's Executive Committee.

Long way to go to the planning consent days of 9.5p...

LONDON (Alliance News) - John Wood Group PLC on Tuesday said it has won a three-year contract to work on Royal Dutch Shell PLC's Prelude floating liquefied natural gas project. John Wood's Wood Group Kenny arm will provide consultancy services to the project, which is located in Western Australia. No financial details were disclosed. The contract will be effective immediately and will focus on the development and implementation of the flexible riser integrity management plan for the project. "The flexible risers are a safety critical component of the subsea system. We look forward to working with Shell and applying our specialist expertise to the project, which has specific challenges given the cyclonic conditions, making integrity even more pertinent," said Wood Group Kenny Chief Executive Bob MacDonald.

Moving up nicely today again, contract news coming?? GLA

Image: PetroRiozoom Image: PetroRio Wood Group has been awarded a new contract by PetroRio to deliver services to the Polvo A platform, in the southern Campos basin, approximately 100 kilometres off the coast of Rio de Janeiro. Integrated operations and maintenance services will be provided by Wood Group PSN under the two-year contract, which is effective immediately. The Polvo field, which consists of a fixed production and drilling platform connected to a floating production, storage and offloading vessel (FPSO). Wood Group Kenny has held two contracts to provide integrity management support to the field, the most recent of which completed in early 2015. Robin Watson, chief executive of Wood Group, said: “We look forward to beginning this new partnership with PetroRio, where our focus will be on working collaboratively to deliver safe, efficient and effective services. “Our experience operating in Brazil, alongside our strong history of supporting offshore assets across their life cycle in the North Sea, positions us well and we are committed to leveraging our knowledge and expertise to optimise the productivity of the Polvo A platform.”

Wood Group has won a new, multi-year contract with ConocoPhillips in Australia. Effective immediately, Wood Group PSN will deliver brownfield engineering services to the Bayu-Undan field located south west of Timor-Leste and the Darwin liquefied natural gas (LNG) plant at Wickham Point, Darwin. Contract personnel will be based onshore in Perth, Western Australia and Dili, Timor-Leste. The contract also covers associated floating, storage and offloading facilities and subsea pipelines; a Wood Group Kenny team based in Perth, Western Australia will supply subsea engineering expertise.

Energy services firm Wood Group today said it has secured a “multi-million” dollar contract with oil major BP. Under the five-year deal, the Aberdeen-based group’s Kenny division will provide engineering services to BP’s existing subsea infrastructure in the Gulf of Mexico, UK and Norwegian continental shelves and offshore Azerbaijan. The contract will be delivered from Wood Group Kenny’s offices in Aberdeen, Baku, Houston, London and Norway. Wood Group Kenny chief executive Bob MacDonald said: “This significant contract demonstrates our unique independent model and our ability to deliver a complete portfolio of subsea services across global projects. Read more: http://www.scotsman.com/business/energy/wood-group-lands-multi-million-subsea-deal-with-bp-1-3931212#ixzz3pzWH5Ejb

Energy services firm Wood Group today said it has secured a “multi-million” dollar contract with oil major BP. Under the five-year deal, the Aberdeen-based group’s Kenny division will provide engineering services to BP’s existing subsea infrastructure in the Gulf of Mexico, UK and Norwegian continental shelves and offshore Azerbaijan. The contract will be delivered from Wood Group Kenny’s offices in Aberdeen, Baku, Houston, London and Norway. Wood Group Kenny chief executive Bob MacDonald said: “This significant contract demonstrates our unique independent model and our ability to deliver a complete portfolio of subsea services across global projects. Read more: http://www.scotsman.com/business/energy/wood-group-lands-multi-million-subsea-deal-with-bp-1-3931212#ixzz3pzWH5Ejb

As usual it never lasts long!