Petrofac: ‘Work continuing apace’ to stem share price collapse
"The paucity of actual detail will frustrate investors at the lack of concrete progress," said one analyst.
Petrofac
SFO charges former Petrofac execs with UAE bribery
Chedid and Salibi are due to appear in Westminster Magistrates’ Court on February 19, 2024 to hear the charges.
Petrofac warned over welding fume risks on Kittiwake
Safety regulators have put Petrofac on notice after it found poor assessments left offshore workers on the Kittiwake platform at risk of exposure to hazardous fumes.
More detail ‘when time is right’ on Petrofac cash plans
Petrofac is considering sales on non-core parts of the business as part of its bid to improve cash flow.
Petrofac to take $110m write-down over contract issues
Group will report $180m loss for 2023, despite positive news today on a $1.4bn TenneT contract win.
Petrofac secures three-year services contract for TotalEnergies UK assets
The three-year deal continues a strong run of orders for Petrofac in 2023, however the company still faces a range of financial pressures.
Fitch downgrades Petrofac credit rating following share price trouble
Credit ratings agency Fitch has downgraded its assessment of North Sea operator Petrofac (LON: PFC) to a 'B-' in the latest sign of financial trouble at the firm.
Revealed: The 28 firms owed more than £140m by North Sea operator IOG
Administrators appointed by IOG have identified 28 creditors owed money by the troubled North Sea oil and gas firm
Petrofac assessing ‘range of options’ after share price crash
Energy services giant is considering sale of “non core assets” as part of bid to improve cash flow.
Petrofac boosts headcount with 3,000 hires
A strong activity pipeline is recovering headcount numbers after a cull during Covid.
Petrofac awarded multi-million pound North Sea decommissioning contract by Saipem
Italian oilfield services firm Saipem (BIT: SPM) has awarded Petrofac a new multi-million-pound deal to support the decommissioning of a platform in the UK sector of the North Sea.
Unite union and Petrofac end pay dispute over ‘clawback’ policy
The union representing around 85 offshore workers employed by Petrofac (LON: PFC) has announced an end to a pay dispute centred on 'clawback' entitlements.
Petrofac wins $100m contract extension with Repsol Sinopec
Petrofac (LON: PFC) has been awarded a three-year contract extension with Repsol Sinopec Resources UK worth more than $100m.
Petrofac clinches $600m Habshan CCUS contract with ADNOC
ADNOC Gas has awarded Petrofac a contract for engineering and construction of one of the region’s largest carbon capture, utilisation and storage (CCUS) schemes.
Dozens of Petrofac workers to strike on Ithaca assets after ‘clawback’ offer rejected
Around 85 Petrofac (LON: PFC) workers will strike for six days after rejecting a pay deal the union claimed would amount to a £6,000 pay cut.
Workers on EnQuest’s Kittiwake platform balloted for strike action
Petrofac workers stationed on the EnQuest-operated Kittiwake platform are to be balloted for strike action in a dispute over pay and so-called ‘clawback’ policies.
Petrofac backlog swells after ‘strongest period for new awards in many years’
Petrofac’s (LON: PFC) order backlog has nearly doubled in recent months after its “strongest period for new awards in many years”.
Dozens of North Sea Petrofac workers to strike in dispute over pay
Scores of North Sea workers employed by Petrofac (LON: PFC) are to down tools later this month as part of a dispute over jobs, pay and conditions.
Petrofac wins FPSO work from CNR International
The initial contract will run for three years. Petrofac did not disclose the value of the contract, beyond describing it as “multi-million pound”.
Petrofac workers on Ithaca platforms to ballot on strikes
Dozens of Petrofac (LON: PFC) offshore workers onboard Ithaca Energy (LON: ITH) platforms are to ballot on strike action.
Valaris 121 returns to North Sea for first time since worker went missing
The Valaris 121 arrived in Dundee in January – where it remained until earlier this week – two days after a worker on board was reported missing.
Petrofac takes Adnoc EPC prize at Habshan
“Petrofac has a long and strong track record supporting Adnoc in the UAE, rooted in our steadfast commitment to maximising local delivery, investing in the local supply chain, and developing local teams," said Petrofac Engineering & Construction COO Elie Lahoud.
Petrofac expects E&C losses in H2 despite growing order book
Petrofac (LON: PFC) has warned of losses from “onerous” contracts in its Engineering and Construction division (E&C) in its upcoming half-year results.
Petrofac signs £250 million field extension contract with NEO Energy
Petrofac has signed an extension to its integrated services contract with NEO Energy worth £250 million.
Petrofac workers on BP North Sea assets secure pay rise
The Petrofac workers based on BP assets that have been locked in an ongoing industrial dispute over pay have secured a 9% pay rise.