DIGEST

摘要

Technip has announced that, in anticipation of an even more challenging environment in the offshore oil and gas industry, it will accelerate its cost-reduction and efficiency efforts worldwide through a restructuring plan. The company said the sharp fall in oil prices has had a substantial impact on clients' behaviour - national and international oil companies alike. "These trends have not improved and, in some cases, have actually worsened over the last two months," said Technip in a July statement. Accordingly, the company has decided to go substantially further in reducing its direct and indirect cost base whilst maintaining its strategic direction. The restructuring plan targets savings of €830 million, of which €700 million is to be delivered in 2016 and the balance in 2017. There are one-off charges of €650 million to cover all the different aspects of today's announcement.