Petrofac Share Discussion Threads

[halfpenny] 28/6/2019 11:27

PFC still very Risky and can fall to £3 with more bad news may be on the way. Dont get trapped as a huge fall may be soon

[halfpenny] 28/6/2019 11:26

PFC still very Risky and can fall to £3 with more bad news may be on the way. Dont get trapped as a huge fall may be soon

[killman2] 28/6/2019 10:09

knuckles severely rapped, repentant, mitigations in place now lets get on with the work..

[pablo121] 28/6/2019 10:02

The absence of any update re:SFO in the recent trading update combined with some interesting wording regarding the Iraq statement (“this situation may change...”) probably reflects intense behind-the-scenes legal negotiations between PFC’s lawyers and the SFO. Given PFC’s resolute stance over the past 2 years, the recent narrative regarding how much the investigation has cost them in terms of lost business (the timing of the Iraqi statement is itself v.interesting), and what appears to be the collapse in the Unaoil case, it would appear that the pressure is now on the SFO to extricate themselves from yet another embarrassing failure. Would expect share price to continue to drift until update on investigation is released but hopefully something will get thrashed out over the weekend.

[11_percent] 28/6/2019 10:01

RNS......looks like PFC are "playing it by the book".

All payments reported...as per regulations.

[killman2] 28/6/2019 09:58

this share price now is so WRONG, after all the SFO speculation it is now done. share price should be reverting back to pre-inquiry numbers i.e. £8 -£9 over the next few months. Big call but last call at these prices....

[pogue] 28/6/2019 09:54

11_percent
I believe Iran has its own contractor company for doing oilfield work, with all the sanctions they need it, not sure about your theory though it sounds reasonable enough, but one thing I do know is that its not because of reputation damage they are not getting to bid there is a deeper reason. I read an article a few days ago about how 27% of the oil produced in Iraqi Kurdistan was going into the president's back pocket via Turkey. With that level of corruption I suggest NOT offering a bribe is definitely going to get you barred from bidding.

Regards reputational damage how about Technip, actually getting fined has not really stopped it getting new work from what I know, infact their office in Paris is loaded with work judging by the phone calls I get to go there.

hxxps://www.oilandgaspeople.com/news/highlights/18906/technipfmc-pays-300-million-to-settle-bribery-case/
Oilfield services company TechnipFMC has agreed to pay $301.3 million to the U.S. and Brazilian authorities to resolve anti-corruption investigations in Brazil and relating to the intermediary, Unaoil for bribery paid to Brazilian officials in exchange for contracts..........

[wallywoo] 28/6/2019 09:24

It was 407p 2 days ago 465p 1 day ago and 432p now (topped up at 407 and just now at 433).

Volatile yes, falling like a stone no

[bouleversee] 28/6/2019 09:22

The market doesn't seem to be waiting; vertical drop this morning.

[wallywoo] 28/6/2019 09:15

to me it all sounds like a lot of hot air. PFC's competitors and customers know all about the Unaoil news. That is central to the accusations against PFC. If the case against Unaoil is dropped so will be PFC's SFO case.

Just wait for the RNS and ignore all the hot air IMO

[wallywoo] 28/6/2019 09:05

I am sure there is A LOT more than meets the eye on any large multi million dollar contract. However, I don't think religion has much to do with it.

Large money is its own religion. PFC have operated and flourished for decades in these areas. They are just out of favour currently - that will change

[killman2] 28/6/2019 08:31

think the news above balances out, good and mildly bad...would expect more good than bad over the next few weeks though as the SFO investigation stagnates further and PFC culpability is acknowledged and accepted. The industry needs PFC expertise so contracts will be forthcoming...IMHO

[pogue] 27/6/2019 21:04

View on how the industry will pick up going forward, unless oil goes below $60...

hxxps://oilprice.com/Energy/Energy-General/Oil-Industry-Boosts-Spending-But-Theres-A-Catch.html
Oil prices have seesawed over the past few years, still far below the pre-2014 highs, but upstream spending is expected to continue to rise in the years ahead, according to a new report from Morgan Stanley.

“Global upstream capex — more muted growth, but still a positive trajectory from here,” the investment bank wrote in a note to clients. Spending should rise by 6 percent CAGR through 2022, Morgan Stanley said, which is down from its prior estimate of 8 percent, largely because of the recent downturn in oil prices.

Between 2019 and 2022, global upstream spending rises from $461 billion to $554 billion. That comes after several years in which spending hovered at around $450 billion. It should be noted, however, that spending will not reach the 2014 peak of well over $700 billion for the foreseeable future, if ever.

Crucially, there is an “inflection point” where oil spending rises and falls. Morgan Stanley says that oil needs to trade above $50 per barrel for WTI and $60 per barrel for Brent for the industry to steadily ratchet up spending. Anything below that level and the expected spending increases go out the window.

In fact, the investment bank says that the oil industry would see a 20 percent decrease in cash flow if Brent averaged $50 rather than $60. Global spending would contract by $100 billion if oil prices averaged $10 per barrel less.............

[sprocket man] 27/6/2019 19:59

That's old news. Are your short?

[halfpenny] 27/6/2019 16:28

PFC on slippery slope so be aware £3 may be soon if bad news flow ... be careful

[hmgouda] 27/6/2019 11:16

Halfpenny be aware no one will pay £4.65 M for over a million share unless they see the potential on this share.

[wallywoo] 27/6/2019 08:48

you were saying that yesterday before it went up 15% halfpenny.In deed, one of your posts was similar to the above which you then edited to say going to 550p

Good luck with your predictions and warnings but I will ignore them

[halfpenny] 27/6/2019 08:24

PFC still Risky once bad news flow. Be aware...£3 support

[cinquepercento] 27/6/2019 08:07

Does anyone now have an annoying big blue support icon in the bottom right corner of their trades and charts screen?

[bouleversee] 26/6/2019 23:26

That was my thought,too..