TechnipFMC spin-off put on hold over volatile market conditions

Oilfield services provider TechnipFMC has been forced to put off its planned separation into two independent entities amid challenging market conditions which have emerged recently, including the coronavirus outbreak, the sharp decline in oil prices, and the volatility in global equity markets.

TechnipFMC announced its plan to separate into two independent, publicly-traded companies – TechnipFMC and Technip Energies – in late August 2019. The company envisioned separation into a fully-integrated technology and services provider and an engineering and construction (E&C) player.

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