LNG

Italian contractor Saipem has revised down its 2026 earnings guidance to factor in extra costs related to the conflict in the Middle East. EBITDA is now forecast at €1.75 billion, down from previously expected €1.9 billion, as the Milan-based group had to spend around €70 million in the first half to improve security for its staff ​in the Persian Gulf region and to overcome ​logistical challenges related to the Strait of Hormuz blockade.