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26 stories mentioning ASX:WORUpdated 12h ago

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Worley Secures EPFC Contract for Pembina's Canada Plant

Worley (ASX:WOR) secured a contract from Pembina Infrastructure and Logistics to provide engineering, procurement, fabrication and construction (EPFC) services for the Heartland Extraction Plant in Strathcona County, Alberta, Canada, according to a Thursday Australian bourse filing.The facility is designed to process up to 21.2 million standard cubic meters of natural gas per day, extracting natural gas liquids from the Yellowhead Pipeline, with operations scheduled to begin in late 2029, per the filing.The project will be executed by an integrated EPFC team from the company's Alberta offices, the filing added.The company's shares fell almost 1% in recent Thursday trade.

Worley Named to Complete Feasibility Studies for Azerbaijan Copper Deposits

Worley (ASX:WOR) said Anglo Asian Mining appointed the firm to complete feasibility studies for the Xarxar and Garadag copper deposits in Azerbaijan, according to a Thursday statement.It will examine development options for copper heap leach processing and solvent extraction-electrowinning.The study for the Xarxar deposit is expected to be completed by mid‑2027, while the one for the Garadag deposit is expected to be completed in the first half of 2028.

Worley Secures Five-Year Aramco Project Management Consultancy Agreement as Part of Pool

Worley (ASX:WOR) secured a five-year agreement with Aramco to support projects within Saudi Arabia via project management consultancy, as part of a pool of 11 contractors, according to a Monday Australian bourse filing.The services the firm will provide include engineering and design, project development studies, detailed engineering, procurement support, project and construction management, and technical expertise. It will also support capability building for local talent in the country.

Middle East Impact on Worley Expected to Spill Into Fiscal 2027, Jefferies Says

Negative impacts on Worley (ASX:WOR) due to disruptions in the Middle East are expected to spill into fiscal 2027, Jefferies said in a Thursday note.The company initially thought the hit would be around AU$30 million to AU$40 million. It has now reported that the impact will be closer to AU$60 million for fiscal 2026.The company disclosed a further AU$25 million hit, with Jefferies expecting an additional three-month drag, triggering a further AU$50 million impact in fiscal 2027.Most of the company's core business segments show weak lead indicators, including North American project delays, reduced sustainability-led work tax incentives, and weak chemical demand, Jefferies said.However, the resources sector remains a bright spot, and a strong balance sheet allows the company to complete its AU$300 million share buyback program.Jefferies reaffirmed its hold rating on Worley and lowered its price target to AU$10.61 from AU$11.48.Worley shares fell nearly 3% in midday trade Friday.

Australian Shares Retreat; Judo Capital Holdings Cuts Fiscal 2026 Profit Before Tax Guidance

Australian shares declined on Thursday after investors reacted to a continued fall in oil prices as supply concerns eased.The S&P/ASX 200 Index fell 0.68%, or 59.70 points, to close at 8,748.70.Oil prices are reaching pre-war levels as tankers transit through the Strait of Hormuz. Brent crude oil futures fell to around $72 per barrel. Meanwhile, gold fell below $4,000 for the first time since November 2025.On the domestic front, Australia's seasonally adjusted unemployment rate fell to 4.4% in May from 4.5% in April, data from the Australian Bureau of Statistics (ABS) showed.Australia's total household wealth rose 1.2% to AU$19.212 trillion in the March quarter due to growth in land and dwelling values, according to figures released by ABS.Australian total household spending in May was AU$80.64 billion on a current price, seasonally adjusted basis, rising 5.5% year-over-year and 1.3% month-on-month, according to data from the ABS.Seasonally adjusted job vacancies in Australia fell 2.1% to 329,500 in the three months to May, ABS said.In company news, Judo Capital Holdings (ASX:JDO) said it now expects a fiscal 2026 profit before tax of AU$163 million to AU$169 million. The cut comes as Judo now expects its fiscal year cost of risk to be in the range of AU$116 million to AU$122 million, reflecting an increase in certain provisions driven mainly by three exposures across different sectors that recently emerged due to "customer-specific developments." Its shares dropped nearly 38% on close, earlier reaching their lowest point in over two years.Worley (ASX:WOR) increased its expected fiscal 2026 underlying earnings before interest, taxes, and amortization (EBITA) impact to up to AU$60 million, up from a prior estimate of AU$30 million to AU$40 million, due to ongoing Middle East project delays.Lastly, Pro Medicus (ASX:PME) will provide an investment of up to AU$20 million to Echo IQ (ASX:EIQ) and become a reseller of the EchoSolv product suite across the US under a proposed commercial partnership.

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Worley to Appeal Federal Court Decision in Guidance Class Action; Shares Fall 8%

Worley (ASX:WOR) said it is appealing a recent Australian Federal Court decision to uphold a shareholder class action lawsuit related to financial guidance, according to a Thursday filing with the Australian bourse.The court previously ruled that the company misled investors when it issued 2013 earnings guidance.Worley said it has a responsive insurance program, and its legal defense is largely funded by insurers.The company's shares fell 8% in recent Thursday trade.

ASX Preview: Australian Shares Set to Rise as Oil Falls on Easing Hormuz Supply Fears; Worley Lifts Fiscal 2026 EBITA Hit to AU$60 Million

Australian shares are poised to rise on Thursday after oil prices tumbled more than 4% as easing supply concerns through the Strait of Hormuz and expectations of rising Iranian exports weighed on global crude markets.Overnight, the S&P 500 and the Nasdaq Composite fell 0.1% and 0.4%, respectively, while the Dow Jones Industrial Average rose 0.4%.In the macroeconomy, Australia's labor force report is due at 11:30 am Sydney time.In corporate news, Worley (ASX:WOR) increased its expected fiscal 2026 underlying earnings before interest, taxes, and amortization (EBITA) impact to up to AU$60 million, up from a prior estimate of AU$30 million to AU$40 million, due to ongoing Middle East project delays.Mineral Resources (ASX:MIN) will cease operations at its Lucky Bay garnet project in Western Australia and transition the mine into care and maintenance, effective July 1.Australia's benchmark index rose 0.2% or 21.4 points to close at 8,808.40 on Wednesday.

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Worley Lifts Fiscal 2026 EBITA Hit to AU$60 Million

Worley (ASX:WOR) increased its expected fiscal 2026 underlying earnings before interest, taxes, and amortization (EBITA) impact to up to AU$60 million, up from a prior estimate of AU$30 million to AU$40 million, due to ongoing Middle East project delays, according to a Thursday filing with the Australian bourse.The company also flagged a further AU$50 million headwind from a stronger Australian dollar on foreign currency translation, per the filing.The company said the Middle East conflict continues to disrupt project execution, with customers delaying both new awards and project starts, although no cancellations have been recorded, the filing said.The company acknowledges the memorandum of understanding and ongoing talks to end the Middle East conflict and reopen the Strait of Hormuz while uncertainty persists, the filing added.

Worley Wins Gas Treatment Contract for Oman Project in Partnership With BASF

Worley (ASX:WOR) won a contract in partnership with German chemicals firm BASF for the engineering and licensing of integrated gas treatment technology and sulfur recovery units for the Budour Tayseer gas project in Oman, Worley said Tuesday.The project has the capacity to produce 2 million standard cubic meters of sweet gas per day, 950 cubic meters of condensate per day, and 80 tons of sulfur pellets per day, the company said.Worley's Worley Comprimo division is providing an integrated gas treating and sulfur recovery scope under a single licensor model.The company's shares fell 1% in recent Wednesday trade.

Worley's Rosenberg Unit Wins Contract to Fabricate Submersible Fish Tanks

Worley's (ASX:WOR) unit Worley Rosenberg secured a contract from Eide to fabricate and assemble three closed, submersible fish tank units, according to a Thursday statement.The scope of work includes fabrication of the steel top and bottom modules of the Watermoon unit, with assembly to be done at Worley Rosenberg's facilities in Stavanger.The Watermoon unit holds fish to maturity, creating an optimal environment by controlling temperature, collecting waste, and protecting against pests such as sea lice, the company said.The statement added that both parties see "strong" potential for further collaboration toward commercial growth and wider deployment of Watermoon.

Australian Shares Jump on Ceasefire Extension Reports; Dexus Must Sell Melbourne Airport Stake, Court Rules

Australian shares closed the week higher on Friday after media reports that said the US and Iran had agreed to extend the ceasefire in the Middle East.The S&P/ASX 200 Index jumped 1.62%, or 138.80 points, to close at 8,731.70.The US and Iran reached an agreement to extend a ceasefire and lift restrictions on shipping through the Strait of Hormuz, Reuters reported on Friday, citing sources. However, US President Donald Trump has yet to approve the deal, and Iranian state media said it had not yet been finalized.Brent crude oil futures plunged to around $92 per barrel. The S&P 500 rose 0.6%, and the Nasdaq climbed 0.9% on Thursday, setting fresh record highs.On the domestic front, Australian small and medium enterprises in digitized industries such as finance, property, and business services are using artificial intelligence at two to three times the rate of manufacturing, transport, and retail sectors, according to a report by National Australia Bank. The bank said about 15% of jobs in Australia are highly or significantly exposed to AI.In company news, Dexus (ASX:DXS) lost its court bid to block the sale of its stake in Melbourne Airport, as the New South Wales Supreme Court ruled that the company was in violation of confidentiality agreements and must dispose of the interest. The company holds a roughly 27.3% stake in Australia Pacific Airports, which owns Melbourne's Tullamarine airport and the Launceston airport in Tasmania.Worley (ASX:WOR) is considering a potential appeal of an Australian Federal Court decision to uphold a shareholder class action lawsuit related to financial guidance. The court on Thursday ruled that the company misled investors when it issued 2013 earnings guidance, upholding an earlier appeal filed by the shareholders, and ordered Worley to pay the applicant's legal costs.ANZ Group Holdings (ASX:ANZ, NZE:ANZ) said ANZ Bank New Zealand filed an appeal in the Court of Appeal on Friday against the High Court of New Zealand's judgment against the bank in class action proceedings. The High Court ruled that ANZ Bank New Zealand breached the Credit Contracts and Consumer Finance Act 2003 in class action proceedings served in September 2021.

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Worley Considers Appeal as Federal Court Upholds Shareholder Class Action Related to 2013 Guidance

Worley (ASX:WOR) is considering a potential appeal of an Australian Federal Court decision to uphold a shareholder class action lawsuit related to financial guidance, according to a Friday filing with the Australian bourse.The court on Thursday ruled that the company misled investors when it issued 2013 earnings guidance, upholding an earlier appeal filed by the shareholders, and ordered Worley to pay the applicant's legal costs.The company said it has "continued to strengthen its governance frameworks over many years," adding that it will "consider this judgment and its position on any appeal."Worley shares fell 1% in recent Friday trade.

Worley Rosenberg Wins Subsea Structures Fabrication Contract for Equinor's Fram Sør Development

Worley (ASX:WOR) said its unit Worley Rosenberg has been awarded a contract by Subsea7 for the fabrication of subsea structures for Equinor's Fram Sør development in the northern North Sea in Norway, according to a Wednesday Australian bourse filing.The company said Worley Rosenberg will fabricate a total of 34 subsea structures, mainly comprising pipeline end manifolds, pipeline end terminations, and pig launchers and receivers, with the project starting immediately and steel cutting planned for June.At peak, the Fram Sør project is set to engage over 80 employees at Worley Rosenberg across project management and fabrication disciplines, it added.

Worley Secures Engineering Services Contract From AEP for Oklahoma Gas Turbine Project

Worley (ASX:WOR) was awarded an engineering services contract by American Electric Power (AEP) to support stages 3 to 4 of the Northeastern Simple Cycle Gas Turbine project at Public Service Company of Oklahoma's Northeastern generation facility in the US, according to a Tuesday filing with the Australian bourse.The scope includes engineering, detailed design, and procurement support for a new natural gas-fired power plant consisting of two gas turbines with a total capacity of around 450 megawatts, per the filing.The project will be executed under the company's master services agreement with AEP, led from its Reading, Pennsylvania, office with support from its global integrated delivery team and offices in Louisiana and Houston, the filing added.

Gold Hydrogen Confirms Gas Purity Levels for Natural Hydrogen, Helium at South Australia Project; Shares Up 8%

Gold Hydrogen (ASX:GHY) confirmed gas purities of up to 97% for natural hydrogen and nearly 37% for helium during recent drilling and well-testing at the Ramsay project in South Australia, according to a Wednesday filing with the Australian bourse.Independent assessment by Worley's (ASX:WOR) Worley Consulting unit found that the project may have the potential to be commercially viable with as few as two wells, assuming sustained helium flow rates of roughly 29,000 standard cubic feet per day per well, the filing said.The next flow-testing campaign is slated to start in June, per the filing.Gold Hydrogen shares rose more than 8% in morning trade on Wednesday, while Worley shares were down 1%.

APA Group Awards Engineering Services Agreement to Worley

APA Group (ASX:APA) awarded an engineering services framework agreement to Worley (ASX:WOR) for gas transmission and storage projects in Australia, according to a Wednesday filing with the Australian bourse.Worley will provide services on an exclusive single contractor partnering model under the agreement, which has an initial three-year term. The services will be delivered mainly from Worley's Brisbane office, with specialist support from Melbourne.

Worley Needs Details Around Drivers for Market to Gain Confidence in Growth Ambitions, Jefferies Says

The details around Worley's (ASX:WOR) near-term and medium-term drivers may become important for the market to gain confidence in its growth ambitions, Jefferies said in a note on Wednesday.The firm reiterated its downgraded guidance, saying it was unlikely to achieve growth in underlying earnings before interest, taxes, and amortization. It is unclear whether the impacts of the conflict in the Middle East are likely to be in the previously outlined Au$30 million to AU$40 million range.Key areas of focus for the firm's growth ambitions are energy transition materials, power, data centers, nuclear, and industrial water.Annualized savings are planned to be about 20% above the AU$100 million flagged in the first half, to AU$120 million, with AU$95 million actioned and a further AU$25 million underway.The investment firm assigned a hold rating on Worley and a price target of AU$11.48 per share.

Worley to Launch AU$300 Million Share Buyback Program

Worley (ASX:WOR) is launching a new on-market repurchase program for up to AU$300 million of its shares, according to a Thursday filing with the Australian bourse.The program's proposed start date is May 29 with a term of one year, per the filing.

Worley Wins Engineering, Design Services Contract for Louisiana Facility

Worley (ASX:WOR) secured an engineering and design services contract with Orbia Fluor & Energy Materials for its lithium hexafluorophosphate production facility in Louisiana, according to a Wednesday filing with the Australian bourse.The company will provide engineering and full supply chain services through its Louisiana office, with support from the global integrated delivery team, the filing said.Financial terms of the deal were not disclosed.Shares rose 1% in midday trade on Wednesday.

Worley Selected to Provide Independent Support for Canada Nuclear Power Project Early-Phase Technology Evaluation

Worley (ASX:WOR) said Wednesday it was selected by Bruce Power to provide independent support for early-phase technology evaluation as part of its Bruce C nuclear power project in Canada.Bruce C aims to add up to 4,800 megawatts of clean nuclear capacity at the Bruce Power site.The company said in a statement that it will lead the development of technology requirements, which will inform future evaluation and procurement phases.Worley's shares were up nearly 1% in recent Wednesday trade.

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