Local Business Babcock takes £120m charge from reshape of oil and gas business By Allister Thomas November 21 2018, 9:07 am November 21 2018, 9:07 am Share Babcock takes £120m charge from reshape of oil and gas business Share via Facebook Twitter Whatsapp Messenger Linkedin Email Post link https://www.pressandjournal.co.uk/fp/business/local/1614429/babcock-takes-120m-charge-from-reshape-of-oil-and-gas-business/ Copy Link Babcock has recognised its oil and gas assets have dropped in market value. Babcock has announced it has taken exceptional charges of £120million in reshaping its oil and gas business. In its half-year results, the engineering giant said that part of the business continues to be impacted by “challenging industry conditions”. Babcock said it was taking steps to reduce the overcapacity in the sector, however the net cast cost is only expected to be £10m. >> Read more Energy Voice here <<
