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Asia

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.

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Asia

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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Asia

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.

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Asia

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.

ASX:WOR
Asia

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.

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Asia

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%.

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Asia

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.

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Asia

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.

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Asia

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.

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Asia

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.

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Asia

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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Asia

St George Mining Appoints Worley For Brazil Niobium-Rare Earths Project Technical Advisory Services

St George Mining (ASX:SGQ) appointed Worley (ASX:WOR) subsidiary Worley Engenharia to provide technical advisory services for the potential development of a niobium and rare earths mine at its Araxá project in Brazil, according to a Wednesday Australian bourse filing.St George Mining Brasil, a wholly-owned unit of St George, entered into a technical services agreement with Worley Engenharia, under which Worley will provide engineering and project management advice to support development studies.St George also engaged metallurgical experts in Australia to provide advice on metallurgical matters and serve as the competent persons for metallurgy disclosures.

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Asia

Worley Secures New Contract With Materials Science Company

Worley (ASX:WOR) secured an engineering, procurement, and construction management services contract with materials science company Dow to provide front-end engineering design for the Fort Saskatchewan Path2Zero project in Canada, according to a Wednesday filing with the Australian bourse.The facility is expected to be operational by 2030, the filing said.Worley shares fell 1% in afternoon trade on Wednesday.

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Asia

Gold Hydrogen Says to Start Flow Test at South Australia Project

Gold Hydrogen (ASX:GHY) is set to start a flow test program at the Ramsay project in South Australia, with equipment mobilization scheduled for late May and flow testing operations scheduled to start by late June, according to a Tuesday Australian bourse filing.The company said the flow test campaign will undertake separate zonal testing of discrete natural hydrogen and helium-bearing formations, following subsurface indicators, including soil gas results of up to 2,160 parts per million natural hydrogen, about 4,000 times atmospheric background, across the Ramsay project area.Phase one fluid inclusion studies across the company's high-grade exclusive application areas support the presence of regionally extensive natural hydrogen and helium generation systems across Gold Hydrogen's 77,292-square-kilometer tenement portfolio, the filing added.In parallel with the flow test program, the company is working with Worley (ASX:WOR) to assess early development, including the potential to fast-track a helium development at Ramsay to supply the Australian domestic market and enhance Australia's sovereign helium capability, it added.The company's shares fell 1% in recent Tuesday trade.

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Asia

Australian Shares Close Modestly Higher; National Australia Bank Boosts Provisions to Reflect Middle East Conflict Impact

Australian shares were modestly higher at Monday's close as oil prices spiked and investors weighed the rising tensions between the ​US and Iran.The S&P/ASX 200 Index increased slightly by 6.4 points to close at 8,953.30.Tensions rose in the Middle East as the US seized an Iranian cargo ship and Iran's top military command said they would retaliate. The ceasefire between the two countries is set to expire on Tuesday.US President Donald Trump said he was sending envoys for talks in Pakistan and that he would launch new strikes on Iran if it didn't agree to his terms. However, Iran rejected new peace talks with the US, its state news agency reported.Brent crude oil futures were up by 5.7% to $95.50 per barrel.On the domestic front, ANZ said it expects Australia's underlying cash deficit to be little changed from the Mid-Year Economic and Fiscal Outlook at AU$37 billion in fiscal 2025 to 2026 and AU$36 billion in fiscal 2026 to 2027, with deficits averaging about 1% of gross domestic product likely over the forward estimates through to fiscal 2029 to 2030.Australian households' fuel spend dropped 3.8% to AU$163.4 million in the week that started April 6, following a nearly 18% decline to AU$169.8 million in the week before.In company news, National Australia Bank (ASX:NAB) said it expects fiscal first-half credit impairment charges of AU$706 million as it lifts provisions to reflect risks stemming from the Middle East conflict. The AU$300 million net increase in forward-looking collective provisions includes a AU$201 million increase in forward-looking adjustments for potential stress in sectors that are more likely to see an impact from fuel supply and cost issues.Viva Energy Group (ASX:VEA) reported a 5.1% year-over-year increase in first-quarter sales volume to 4,302 megaliters, driven by an increase of 7.1% in commercial and industrial fuel volume. The company said its Geelong refinery does not typically source Middle Eastern crude.Lastly, Worley (ASX:WOR) said the adverse impact of the Middle East conflict on its fiscal 2026 underlying earnings before interest, tax, and amortization is estimated to range from AU$30 million to AU$40 million.

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Asia

Update: Worley Sees EBITA Impact of Up to AU$40 Million Due to Middle East Conflict; Shares Fall 6%

(Updates to add stock movement in the headline and last paragraph)Worley (ASX:WOR) said the adverse impact of the Middle East conflict on its fiscal 2026 underlying earnings before interest, tax, and amortization (EBITA) is estimated to range from AU$30 million to AU$40 million, according to a Monday filing with the Australian bourse.The company said it is now unlikely to achieve growth in underlying EBITA in fiscal 2026, but it continues to expect the underlying EBITA margin excluding procurement to be within a range of 9% to 9.5%, with no project cancellations to date due to the conflict.Worley said the extended duration of the conflict and continued uncertainty are resulting in further delays to existing Middle East-related projects and the commencement and award of new projects in the region, while it continues to target higher growth in aggregated revenue than fiscal 2025.The company said it anticipates medium- to longer-term growth opportunities from investment in regional pipeline and export infrastructure, and increased global focus on national security for alternate sources of energy, chemicals, and resources.The company's shares fell 6% in recent Monday trade.

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Asia

Worley Sees EBITA Impact of Up to AU$40 Million Due to Middle East Conflict

Worley (ASX:WOR) said the adverse impact of the Middle East conflict on its fiscal 2026 underlying earnings before interest, tax, and amortization (EBITA) is estimated to range from AU$30 million to AU$40 million, according to a Monday filing with the Australian bourse.The company said it is now unlikely to achieve growth in underlying EBITA in fiscal 2026, but it continues to expect the underlying EBITA margin excluding procurement to be within a range of 9% to 9.5%, with no project cancellations to date due to the conflict.Worley said the extended duration of the conflict and continued uncertainty are resulting in further delays to existing Middle East-related projects and the commencement and award of new projects in the region, while it continues to target higher growth in aggregated revenue than fiscal 2025.The company said it anticipates medium- to longer-term growth opportunities from investment in regional pipeline and export infrastructure, and increased global focus on national security for alternate sources of energy, chemicals, and resources.

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