Wood Group faces financial review and potential breakup amid project cancellations in MENA.

Wood Group, an energy services company, is facing financial challenges leading to a drop in its stock value due to project write-downs and contract cancellations, especially in the Middle East and North Africa. This has prompted a financial review by Deloitte and the potential breakup of its MENA business to improve financial stability. Meanwhile, plans for a new 1GW gas turbine plant in Abu Dhabi could bolster the region's energy infrastructure.

November 11, 2024
3 Articles