Uzbekistan’s largest state-owned enterprise, the oil and gas company Uzbekneftegas (UNG), will be restructured to improve its long-term sustainability and credit quality following a decision by the country’s government to implement a corporate transformation plan prepared with support from the Asian Development Bank (ADB). The decision was announced in a decree signed...
KBR announced its selection as the preferred bidder by Freeport LNG Development, L.P. for the engineering, procurement, construction, and commissioning (EPC) contract for Train 4 at Freeport LNG’s export facility near Freeport, Texas. “We are excited to be selected for this significant project, and to continue to grow our leadership...
Weatherford International is headed to bankruptcy court to try to slash its crushing debt load. On Friday, the services company said it planned to file under Chapter 11, and announced that its senior creditors are expected to facilitate financing that will sustain operations during bankruptcy and afterward. The company’s statement on...