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Evening Standard
Evening Standard
Holly Williams

Wood Group shares plunge as review of business launched

Wood Group Deloitte
A new licensing round for oil and gas exploration begins of Friday, the North Sea Transition Authority confirmed (Danny Lawson/PA) -

Engineering firm Wood Group has seen its shares plummet to a more than 20-year low after launching a review of the business following recent write-downs on projects.

The Scottish group, which provides oilfield and engineering services, saw its shares slump as much as 49% in mid-morning trading on Thursday after it said Deloitte would carry out an independent review.

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