Home / Mining Company News Releases (Unreviewed) / WorleyParsons Swings Into $38.9 Million Loss for Fiscal-Year 2015 Amid Challenging Markets, an Industrial Info News Alert

WorleyParsons Swings Into $38.9 Million Loss for Fiscal-Year 2015 Amid Challenging Markets, an Industrial Info News Alert

SUGAR LAND, TX–(Marketwired – Aug 27, 2015) – Researched by Industrial Info Resources (Sugar Land, Texas) — WorleyParsons, (North Sydney, Australia) swung to an AU$54.9 million ($38.9 million) loss in its just-ended fiscal year from an AU$249.1 million ($176.5 million) profit in the prior fiscal year, amid subdued metals and minerals markets and a sharp cutback in capital expenditures (capex) by oil and gas producers, the global engineering, procurement, construction and management (EPCM) firm said Wednesday. Going forward, the situation is likely to remain the same for minerals and metals markets, company executives said, and the near-term future for the oil industry is uncertain. Industrial Info is tracking 305 active projects worth $198 billion that involve WorleyParsons. This includes $40 billion in projects in the U.S. and $113 billion in projects for Canada.

Within this article: Details on WorleyParsons’ quarter and projects, including the cancellation of a contract for an iron ore mine and mill.

For details, view the entire article by subscribing to Industrial Info’s Premium Industry News, or browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info’s quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what’s happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.comContact Us” page.


Disclaimer: This is an unedited and minimally reviewed public mining company press release originally published at http://feeds.mwnewsroom.com/article/rss?id=1979546. We have linked to our knowledge base articles from within the content of this release in order to help explain some of the terminology used and provide continuity from previous and related news coverage. You can access more in-depth mining company project reviews on our site, as well a knowledge base of articles on mineral exploration, mining and geology-related topics.

About Staff @ Geology for Investors

Geology for Investors seeks to demystify mineral exploration and mining projects for mining company investors. All of our writers and contributors are experienced and educated in geology and the geosciences.