Anton Oilfield Services (03337) fell more than 3% in morning trade, declining 2.86% to HKD 1.02 by the time of writing, with a turnover of HKD 4.6921 million. The company recently announced that the global oil and gas market experienced significant fluctuations in the first quarter due to geopolitical tensions and supply-demand changes. During this period, the group secured new orders totaling RMB 1.3874 billion, a decrease of 20.3% compared to the same period last year. Specifically, new orders from the Iraq market amounted to approximately RMB 611.2 million, down 12.7% year-on-year. New orders from other overseas markets were around RMB 47.9 million, reflecting an 85.3% decline. In contrast, new orders from the Chinese market reached about RMB 728.4 million, up 1.8% compared to the previous year. In Iraq, following military conflicts involving the U.S., Israel, and Iran that broke out in late February, oil exports were significantly reduced due to disruptions in the Strait of Hormuz, leading to delays in some projects. However, the overall impact on the group's operations remains manageable, particularly as its light-asset energy project management business in Iraq and preparatory projects for future capacity expansion were less affected by the situation.