Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Twice daily
MoneyWeek
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Four times a week
Look After My Bills
Sign up to our free money-saving newsletter, filled with the latest news and expert advice to help you find the best tips and deals for managing your bills. Start saving today!
Energy services giant Wood Group has been awarded an extension on a maintenance contract from Caltex Australia worth 45m dollars.
The additional 18 months' work (from June 2013) follows a three-year contract awarded to Wood Group's PSN (WGPSN) division to provide maintenance management, mechanical and support services to two Caltex refineries in Brisbane and Sydney.
WGPSN, which provides brownfield services to the oil and gas industry, employs over 200 people at both sites.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Matt Gavin, WGPSN Managing Director for Australia & Asia Pacific said: "We have been able to deliver tangible maintenance performance improvements across both refineries since this contract was awarded and this extension is testament to Caltex's confidence in WGPSN.
"It also further cements our credentials as a leading industrial maintenance service provider in Australia."
Gavin said that since the contract started in 2010, WGPSN has seen a marked reduction in the backlog of maintenance work, a significant improvement in maintenance compliance and "pleasing increase" in scheduled work delivery.
"This has translated to improved reliability and performance at both sites and will hopefully help Caltex achieve its goal of becoming a top quartile performer for maintenance and reliability when compared to other refineries in the Asia Pacific region."
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
MoneyWeek Talks: The funds to choose in 2026Podcast Fidelity's Tom Stevenson reveals his top three funds for 2026 for your ISA or self-invested personal pension
-
Three companies with deep economic moats to buy nowOpinion An economic moat can underpin a company's future returns. Here, Imran Sattar, portfolio manager at Edinburgh Investment Trust, selects three stocks to buy now
