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Hyundai bullish over oil and gas

Hyundai bullish over oil and gas
Hyundai Heavy Industries is hoping to surpass its target for oil and gas equipment orders by 79% this year, according to Bloomberg.

Hyundai Heavy bullish over oil and gas orders.

Hyundai Heavy Industries is hoping to surpass its target for oil and gas equipment orders by 79% this year, according to Bloomberg.

The company had originally budgeted revenues of $4.2bn for the segment.

Net income for the year is expected to be at similar levels to 2009 at between Won300bn ($265m) to Won400bn, executive vice president Kang Chang June told the newswire.

Separately, the company will take a 10% stake in EBX Brasil"s shipyard in order to target contracts from Petrobras.

Last month, the company won a $1.2bn order for a floating production, storage and offloading vessel for Italian firm Eni.

www.turkishmaritime.com.tr

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