Petrofac Limited

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Market Cap:
£1.49 billion
52 weeks high
52 weeks low

Viewing results 1-25 of 132


Petrofac describes “solid operational performance” in first half

“Petrofac has delivered good results that reflect solid operational performance across the business," said Ayman Asfari....

3 weeks, 3 days ago

Morgan Stanley mixed on oil services firms; ups Wood Group to ‘overweight’, cuts Petrofac to ‘equal weight’

For Petrofac, the investment bank said while it was "well positioned" to grow its order backlog, an ongoing SFO probe remains the biggest factor affecting the share price...

on 3/7/19
Industry & services

Petrofac shares lower despite ‘in line’ trading ahead of interims

"We continue to maintain excellent client relationships in all of our markets, although new order intake in the year to date reflects our recent challenges in Saudi Arabia and Iraq” ...

on 25/6/19

Nu-Oil and Gas teams up with Petrofac in gas-to-wire venture

The venture aims to unlock economically stranded gas resources for offshore power generation....

on 19/6/19
Industry & services

Petrofac awarded contract worth around US$1bn for the Ain Tsila Development Project in Algeria

Under the 42-month contract terms, the lump-sum engineering, procurement and construction (EPC) project scope of work includes commissioning, start-up and performance testing...

on 13/3/19
Industry & services

Petrofac shares lower as revenue drops

"Petrofac has reported good results that reflect solid execution and excellent progress delivering our strategy,” said Ayman Asfari, Petrofac chief executive...

on 28/2/19

JP Morgan downgrades Petrofac as shareholders band together to launch £400mln legal claim

Petrofac has been under investigation from the Serious Fraud Office for almost two years, and shareholders are now looking to recoup some of their “substantial losses”...

on 11/2/19
Industry & services

Petrofac shares boosted by upgrade to ‘buy’ from ‘hold’ from Jefferies International

The US broker's analysts noted that Petrofac "is an increasingly well-run business providing realistic expectations trading opportunities within continued tough Oilfield Service markets"...

on 7/1/19
Industry & services

Petrofac says trading in line with expectations, new order intake of US$5.0bn in year to date

The FTSE 250-listed group also said its net debt is expected to be around US$250mln as at 31 December 2018 benefitting from lower capital expenditure, a working capital inflow in the second half, and approximately US$0.5bn of net divestment proceeds...

on 18/12/18

Echo Energy appoints former Shell vice-president as non-executive director

Dr Gavin Graham previously served as Shell’s vice president for new business & commercial in the Middle East, Caspian & South Asia...

on 2/11/18
Retail & consumer

Whitbread faces pressure to prove merits of Premier Inn as standalone business

“Whitbread investors may miss the caffeine highs Costa serves up," Hargreaves Lansdown said of the group's decision to sell the coffee chain to Coca-Cola...

on 31/8/18

Petrofac boss boasts of “a good set of first half results”

"We remain focused on our core and delivering organic growth as the market recovers,” Ayman Asfari said...

on 29/8/18

Petrofac to exit Greater Stella project with Ithaca transaction

"This disposal marks a further milestone in our journey back to a capital-light business," said chief executive Ayman Asfari...

on 24/8/18

Petrofac downgraded as Jefferies uncertain over contract wins

Jefferies moves to 'hold' as it focusses on the group's effort to secure US$3.5bn of new business for the year...

on 16/8/18
Industry & services

Petrofac secures US$300mln of new bank facilities as US$600mln bond maturity date looms

The FTSE 250-oilfield services group said the new facilities will provide additional liquidity and reduce utilisation of its existing revolving credit facility...

on 13/8/18
Industry & services

Petrofac upgraded back to ‘Buy’ by Kepler Cheuvreux following “reassuring” first half trading

Analysts at the European broker said most of their concerns had been alleviated by a trading update released on Tuesday following a downgrade of the stock in mid-May...

on 27/6/18
Industry & services

Petrofac sees good revenue visibility as new order intake gains

Petrofac reported a 5.9% increase in new order intake for the year to date and said it has several bid opportunities ...

on 26/6/18
Industry & services

Petrofac making “good progress” in 2018 as new contracts roll in

The oilfield services group is looking to bounce back from a tough 2017, when it was forced to suspend its chief operating officer amid a Serious Fraud Office investigation...

on 18/5/18
Industry & services

Petrofac sells SD6000 project to ZPMC for US$190mln

The oil and gas engineering group will retain an interest in the project, but won't need to fund construction, commissioning or testing operations...

on 24/4/18
Industry & services

Petrofac lands US$135mln lump-sum contract in India

“This award demonstrates our organic growth ambitions in action, and attests to our strategy of a continued increase in our capabilities in India, a country which holds a special place in our service offering"...

on 12/3/18
Industry & services

Petrofac upgraded to ‘buy’ on valuation grounds

“We cannot offer fundamental growth forecasts, but believe risk-aware upside is on offer at this level” ...

on 6/3/18
Industry & services

Petrofac shares reverse as full-results disappoint despite improving "competitive position"

The FTSE 250-listed firm reported a net loss of US$29mln, after impairments and exceptional items of US$372mln, on revenue of US$6.39bn, down from US$7.87bn...

on 1/3/18

Provident Financial launches big rights issue after £172mln credit card bill

Vanquis Bank, the group’s credit card arm, is to pay £172.1mln in fines, settlements and other charges relating to its repayment option (ROP) plan...

on 27/2/18
Industry & services

Petrofac updates investors on UK Serious Fraud Office probe

The oil services contractor said it is responding "as constructively as possible" to the Serious Fraud Office...

on 5/2/18