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OIL AND GAS
Technip sales up despite caution among oil industry players
by Staff Writers
Paris (AFP) Oct 30, 2014


French oil services group Technip on Thursday reported soaring sales even though weak petrol prices have forced energy giants to be cautious about future investments.

The engineering group, which provides engineering services to oil and gas giants such as Total, BP or Shell, said sales rose 17.8 percent to 2.82 billion euros.

Net profit slid to 12.3 percent to 131.6 million euros, but Technip said it would maintain its full-year targets, citing its 19.3 billion euro backlog.

The group is expecting 2014 sales of its underwater activity to reach between 4.6 and 4.9 billion euros, and its onshore and offshore business revenues to reach between 5.55 and 5.80 billion euros.

In recent months the group has announced several big contracts linked to underwater pipelines, and also to the shale energy boom in North America.

mhc/hmn/hd

TECHNIP

EURONEXT

BGC PARTNERS

TOTAL

BP

ROYAL DUTCH SHELL PLC

JUNIPER NETWORKS

NOVATEK


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Heavily armed Iraqi peshmerga forces reached the Turkish border Thursday and a first small party entered the town of Kobane as they prepared to join fellow Kurds battling jihadists. The 10 fighters briefly entered Kobane to coordinate with Kurdish militia who have been holding off an assault by jihadists of the Islamic State (IS) group for six weeks, said the Syrian Observatory for Human Rig ... read more


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