UK's Rotork expects delivery of some delayed MidEast oil projects in second half
01/05/2026 08:15
May 1 (Reuters) - Industrial equipment maker Rotork ROR.L maintained its annual outlook on Friday, saying some delayed oil and gas projects in the Middle East were expected to be delivered in the second half of the year. Maintenance and repair work is also expected to pick up in the region, the British maker of components for oil and gas production, pipelines, and refineries said. The company operates in the United Arab Emirates, which was repeatedly attacked by Iran after the U.S.-Israeli war against Tehran began two months ago. Here are some details: It said project delays in the first half were due to wider supply-chain constraints and customers prioritising production restarts. It said it has mitigation measures in place and sees no material cost inflation. It expects stable full‑year oil and gas performance, weighted towards the second half. First‑quarter revenue rose by a low single‑digit percentage on an organic constant‑currency basis, driven by strength in the chemical, process, industrial, water, and power markets. (Reporting by Nithyashree R B in Bengaluru; Editing by Subhranshu Sahu) ((NithyashreeRB@thomsonreuters.com))