Technipfmc Plc Stock Price, News & Analysis

TechnipFMC plc (NYSE: FTI) announced the appointment of Ms. Margareth Øvrum to its Board of Directors, effective October 1, 2020. This followed the Company's report filed with the SEC on October 20, 2020, which also revealed that she was appointed to the Board's Environmental, Social, and Governance (ESG) Committee. Ms. Øvrum's inclusion in the board reflects the Company’s commitment to enhancing its ESG strategies and governance.

TechnipFMC (NYSE:FTI) has secured a major contract from Equinor for the Breidablikk Pipelay project near the Grane Field in the North Sea. This Engineering, Procurement, Construction, and Installation (EPCI) contract, valued between $75 million and $250 million, includes the provision of flexible jumpers and rigid pipelines. The project is a tie-back to the existing Grane platform, further emphasizing TechnipFMC's collaboration with Equinor to optimize installation solutions. Approval from Norwegian authorities is still pending.

TechnipFMC (NYSE:FTI) has signed a Memorandum of Understanding (MoU) with McPhy, a leader in carbon-free hydrogen solutions. This collaboration aims to develop technology for hydrogen production and distribution, aligning with TechnipFMC's commitment to support the energy transition. TechnipFMC's Technip Energies segment, a market leader in hydrogen technology, will focus on manufacturing hydrogen electrolysis and distribution systems. The agreement also includes an equity investment in McPhy, enhancing TechnipFMC's growth prospects in the green hydrogen sector.

TechnipFMC plc (NYSE: FTI) announced a notification of major interests in shares from BlackRock, Inc. The investment firm has decreased its holdings, crossing below the 5% threshold in voting rights on October 9, 2020. Previously, BlackRock's stake stood at 5.02%, comprising 4.31% via shares and 0.71% through financial instruments. The company has been transparent about its positions, indicating ongoing regulatory compliance. This reduced stake may signal a shift in investment strategy or market outlook for TechnipFMC.

TechnipFMC plc (FTI) received a notification of major interests in shares from Norges Bank, indicating an acquisition of voting rights. On October 9, 2020, Norges Bank crossed a threshold, acquiring 3.13% of voting rights, totaling 14,087,530 shares out of 449,408,233 voting rights. This significant stake reflects an important movement in the company's shareholder structure. The notification was completed on October 12, 2020, highlighting Norges Bank's position as a key stakeholder in the company.

TechnipFMC (NYSE: FTI) has announced the appointment of Arnaud Pieton as President and CEO-elect of Technip Energies and Jonathan Landes as President, Subsea, effective immediately. Pieton, with the company since 2004, previously served as President, Subsea, while Landes brings 25 years of energy sector experience. These changes follow the resignation of Catherine MacGregor, who is joining Engie. Chairman Doug Pferdehirt expressed confidence in Pieton’s ability to drive project performance and highlighted Landes’ commitment to client success.

TechnipFMC (NYSE: FTI) announces the appointment of Margareth Øvrum, former Executive Vice President of Equinor ASA, to its Board of Directors effective October 1, 2020. Doug Pferdehirt, Chairman and CEO, emphasized Øvrum's extensive experience in technology, projects, and sustainability, which is expected to enhance the board's expertise. Øvrum brings 38 years of experience from Equinor, contributing leadership across various roles, including President of Equinor Brazil. This strategic addition aims to strengthen TechnipFMC’s capabilities in the energy sector.

TechnipFMC (NYSE:FTI) has secured a large contract from Esso Exploration and Production Guyana Limited, a subsidiary of Exxon Mobil Corporation, for the subsea system for the Payara project. This includes the production of 41 enhanced vertical deep water trees, six flexible risers, and ten manifolds along with associated equipment. The contract is valued between $500 million and $1 billion and signifies a continued partnership with ExxonMobil, enhancing TechnipFMC's presence in Guyana while supporting local engineering talent development.

TechnipFMC plc (NYSE: FTI) reported that as of September 29, 2020, it has 449,408,233 ordinary shares of USD 1.00 each in circulation, with no shares held in treasury. This total number comprises the voting rights available to shareholders, which can be used for interest notifications as stipulated by the Disclosure Guidance and Transparency Rules. TechnipFMC is a key player in the energy sector, offering innovative technologies and services across its business segments: Subsea, Surface Technologies, and Technip Energies.