TechnipFMC joins ranks of energy cos. cutting spending

TechnipFMC PLC (NYSE: FTI) has cut about a third of its spending plans for 2020, and it’s looking to reduce costs even beyond that.

TechnipFMC, which has headquarters in Paris, London and Houston, has reduced its 2020 capital expenditure plan by $150 million, landing at $300 million, the company said in a press release. It’s also looking to cut annualized costs in its surface technologies arm and among its corporate function by $100 million and $30 million, respectively.

The surface technologies…