Petrofac Share Discussion Threads

[kirk 6] 12/4/2024 15:33

Who is buying this now? Potential 90% wipe out coming

[pogue] 12/4/2024 15:32

They all have a projects arm because they have to have a small amount of internal engineers to take the client roles in the large projects, they check the designs comply with their standards. They dont do the design that is done by the contractors. They even have term contracts for large contractors to base an engineering team on site to do the small projects like replace tanks or upgrade pieces of equipment. Their inhouse engineering team is to make sure jobs are done correctly.
You are right what would you know.

[mrminister] 12/4/2024 15:26

Yes weak holders throwing the towel in all day are being swept up all day long ...was 30% down now 18% ....smoke & mirror's

[armbar] 12/4/2024 15:25

I will name one with in-house capability TotalEnergies Total energies global solutions Or another one Shell, projects and technologies divisioOrBP who have a designated engineering and projects arm It's obvious why you would have one just think of the 29billion Andoc projects in pipeline as opposed to outsourcing you have control But what do I know GL

[eodfire] 12/4/2024 15:20

Seeing a bit of recovery here after this mornings drop. As others have said, shares seem to be being hoovered up by somebody. Good luck all holders.

[pogue] 12/4/2024 15:19

Miena
I know what has happened in the past and contractors generally buy contractors, I was at AMEC when Wood bought it for instance. So they can be bought but no one would be so stupid to buy PFC as the contracts they have have been underbid to win them and the only way to make the money will be by change orders and that is a hard and confrontational way to make money. The contracting industry has moved away from that model years ago and is only the Italians, who have large overheads due to inflexible labour laws and PFC, who were desperate before/after the court case to win work, that I have seen doing it in recent times.
I have no position I sold long ago and went to WG, I remember arguing around the time I sold with that other born liar Whites123 about the court case. I held they would be found guilty and given a fine he was adamant they were innocent and would get no fine. I was right.
I hate seeing people make up stories to con people out of money and occasionally challenge them when I feel bored. So many rampers on here mind you I am not sure if there are any honest investors actually buying shares.

[gooseman1979] 12/4/2024 15:18

Annual borrow costs now ~100% at IG

[miena] 12/4/2024 14:53

atmysignal I certainly wont disregard what you are saying... The Oil sector is without question the most corrupt!

Interesting that everyone chose to focus on the D4E & ignore the below from today's RNS...

"It also continues to be in discussion with prospective investors and certain major shareholders in relation to potential further investment in the Company"

So I ask again Who then is buying up all these shares???

[atmysignal] 12/4/2024 14:38

They run it up, to short into today's rnsThe nomad signed it off in two ways.One way regulatory Second was to short it

[miena] 12/4/2024 14:31

What was the purpose of todays RNS??
Was it to warn us that a D4E is coming or no wait it was to warn us that they are still in discussions with prospective investors? or perhaps it was because they still remain in negotiations with prospective purchasers regarding the sale of non-core assets?


WHY would PFC release todays very unclear RNS when the share price had 4 days of solid recovery?? This is the question we should all be asking ourselves?
or more importantly WHO the hell is is hoovering up all these shares??

[miena] 12/4/2024 13:55

pogue you continuously have to repeat yourself on how you are the only one that knows how this industry works... Oil Service companies cannot be bought according to your vast experience and knowledge. We'll just have to wait and see...

Pogue What is your position by the way?

[pogue] 12/4/2024 13:39

I worked on the bid on one of the ADNOC projects that's how much I know!
They will not buy a company to do its own work it is always cheaper to have a bidding process than run your own EPC. Name one oil company that has a project department that can run a large project. There are none it is not cost efficient all oil companies are outsourcing engineering work as its cheaper.
I repeat you have no idea how the industry works.

[miena] 12/4/2024 13:36

My thinking is very much inline with yours armbar...

Someone has the Henry out and is hoovering up all these cheap shares in the background!

Expect a new owner in the not to distant future.

[dudishes] 12/4/2024 13:33

How do you do it LOG, a chart versus chatter?

Amazing

[loglorry1] 12/4/2024 13:22

Requires no words!

[armbar] 12/4/2024 13:20

When you say adnoc do not have the workload Seriously do some research Engineering, procurement and construction activity in Abu Dhabi is soaring to record highs as state oil company Abu Dhabi National Oil Company (Adnoc) pushes ahead with an ambitious oil and gas expansion programme.Billions of dollars worth of upstream-focused oil and gas deals have been awarded by the state giant and its subsidiaries this year, with more than $25 billion in additional work said to be in the bidding stage.

[dudishes] 12/4/2024 13:18

ME are promising GOLD rather than oil. Show me!

[armbar] 12/4/2024 13:16

Today researchAdnoc were looking to acquire BP Petrofac is peanuts for Adnoc but they would gain 9000 employees , tech, expertise , wind, hydrogen , carbon capture , $8bn backlog , 60bn pipeline , few projects it would pay for itself Roi Scalable solutions in global demand all built in the Uae In country value Just my opinion

[armbar] 12/4/2024 13:13

Do not have the workload Have you researched the ME plans , the Uae strategy , Adnoc plans Abu Dhabi National Oil Company (ADNOC) is exploring purchases worth around $50bn (Dh184bn) in a bid to diversify operations and grow internationally, reported the Financial Times (FT). To this end, sources told the FT, the oil giant has assembled a team of nearly 50 dealmakers.

[armbar] 12/4/2024 13:07

Ok I have zero knowledge :) Succinct answer is yes at some pointJV/TO

[dealy] 12/4/2024 13:04

on a positive note: the shares are much higher than the dark days of the end of November. That would imply that although things are far from rosy, they are nonetheless not as bad as 6 months ago.

[pogue] 12/4/2024 12:51

Armbar
I am struggling to read your posts, are you suggesting ADNOC will bid for PFC?
If so you have zero knowledge of the oil and gas contracting business. I have some having spend 30 years in it and have worked for both ADNOC and PFC in the past. There is no way a national oil company will buy a contractor they do not have the workload for them to keep them occupied and I dont see other oil companies asking ADNOC to run their projects so its a waste of time and money.
The only bidder for PFC would be another contractor but they wont want to take on the contract pipeline PFC have accumulated as they have bought the jobs by underbidding cost price to keep the work rolling in. Regards renewables all the major contractors are doing those projects nowadays.
There is no value for anyone buying PFC unless its at a huge discount to compensate for the trouble sorting out its projects that are returning negative profits.
Listen to those who understand how this is going to play out and save yourself some money.

[armbar] 12/4/2024 12:39

Both have advantages Ghhghh as you will appreciate Offer pre you can then negotiate say if you are an Adnoc better terms based on their financial position and in control of the process ,shape it as you wish , based on your balance sheet Post - obvious it is done for you Those shares are somewhere schroders 30M, short 60M and those from today Lets see

[armbar] 12/4/2024 12:03

GhhghhDo not disagree either pre or post Middle East This has been played a beauty imo Now a while ago I suggested the restructure could buy the bonds back at a deep discount but was obviously told by wiser men , never , roll eyes Similar to a tullow glencore scenario Strong conviction Uae as been saying for months question is when , how, how much Adnoc or ME banks Main shareholders will be fighting it founder Asfari 85million shares , BOD, Azvlor his friends Lets see sure they will choose the least damage and most profitable option

[topazfrenzy] 12/4/2024 11:52

From the Telegraph:

'Israel preparing for Iranian attack ‘within 24-48 hours’

Israel is preparing for a direct attack from Iran in the next 24 to 48 hours, a US intelligence source reported.

The country is readying itself for a possible strike on either southern or northern Israel, the source, who was not named, told the Wall Street Journal, as the US embassy placed travel restrictions on all government employees based in the country.

With the region on red alert, Iran is allegedly planning a larger-than-usual aerial attack featuring a mix of missiles and drone strikes, but it intends to limit its strike to avoid provoking a US response, a separate official told Politico.

Iran is “looking to calibrate it, so they essentially don’t overplay their hand”, the official said.'

If so then straight to 9p on Monday for PFC