McDermott Slashes Full-Year Capital Spending Plans as Ichthys, Other EPC Projects Face Delays

SUGAR LAND--August 12, 2015--Researched by Industrial Info Resources (Sugar Land, Texas)--Solid revenues from major projects in Australia and the Middle East spurred profits for McDermott International Incorporated (NYSE:MDR) (Houston, Texas) in second-quarter 2015. But the oil & gas services company lowered its estimates for full-year revenues and capital spending, cutting the latter more than 50%. Industrial Info is tracking $3.9 billion in active projects involving McDermott.

Within this article: Details on McDermott's quarter and projects, including the Ichthys Field development and the construction of offshore platforms in the Persian Gulf.

Other companies featured: Saudi Aramco, Royal Dutch Shell plc (NYSE:RDS.A)