Petrofac Share Discussion Threads

[pogue] 11/9/2019 21:06

hxxps://oilprice.com/Energy/Oil-Prices/Oil-Slides-As-Trump-Considers-Easing-Sanctions-On-Iran.html
WTI prices were jittery on Wednesday morning, rising initially, but falling back below yesterday's lows, after headlines suggesting Bolton was fired after disagreeing with Trump's desire to ease Iran sanctions to get a meeting with Rouhani.

As Bloomberg reports, President Trump discussed easing sanctions on Iran to help secure a meeting with Iranian President Hassan Rouhani later this month, prompting now former National Security Advisor John Bolton to erupt, and "argue forcefully" against such a step, according to the report.

[killman2] 11/9/2019 13:21

breakout...next resistance 460...

[d1nga] 10/9/2019 21:37

Another sizeable draw according to api

[pogue] 10/9/2019 20:48

Dam I do believe Trump is listening to me lol! He has now gone and sacked Bolton which is bad news for the Iran hawks and may signal a move towards an agreement between Trump and Iran maybe possible. Jeeze this guy never stops with the surprises. Needless to say that is not a positive sign for the oil price i suggest though may take a while to get Iran back in the market as a deal has to be struck first, if at all.

[killman2] 10/9/2019 13:59

getting dizzy with these heights....last chance before boom...

[pogue] 10/9/2019 08:57

Russia will not back OPEC on production cuts right now as they have balanced their budget on $55 so any cuts will be met with Russian and US shale increases. All OPEC cutting just now will achieve is loss of customers to Russia and a loss of revenue as they will sell less oil at a lower price. When Russia agrees with OPEC then the price might rise. Off course Trump is still alive and well so anything can happen so stay awake at the back.

[wolfhound1] 09/9/2019 23:57

Chat in evening standard is that Saudis need oil at $100+ to get Aramco to $2trn IPO....may accelerate Opec oil production cuts.....interesting

[cybernest53] 09/9/2019 17:47

Kepler Cheuvreux restate their “Buy” rating on Petrofac.

[knowing] 05/9/2019 23:16

https://www.nsenergybusiness.com/news/petrofac-awarded-major-north-sea-contract-extension/

[pogue] 05/9/2019 17:12

Last reports I heard on Bloomberg were that traders in America have given up on the Chinese/USA talks and assume there is no agreement until there is one as there has been too many lies by Trump on the actual progress.

[wolfhound1] 05/9/2019 16:50

Another large draw on reserves ahead of estimates and US china trade talks back on...for now

[pogue] 05/9/2019 07:27

you sure about that 5% rise there timmy? Latest news is the draw from Cushing last week was actually a build and oil is down a few cents.

[wolfhound1] 04/9/2019 22:16

Pogue, agreed, whilst Saudi IPO is only 5% it sets a value for Aramco.....handy if they want to raise debt on international markets underpinned by oil........ they need to build alternative revenue sources to fossil fuel, tourism, revenue from investments, tech, etc....

[timmy11] 04/9/2019 18:38

oil up nearly 5%

[pogue] 04/9/2019 17:13

wolfhound
There are ambitious plans to change Saudi in to a tourist destination, wonder what they will do to the religious police, and the Aramco IPO is the corner stone of a lot of the changes planned. They have started sidelining the chairman at Armaco Khalid Al Falih who is also the Saudi energy minister this week so something is a foot they also seem to have given up on a UK stock market listing due to Brexit and are looking at Japan. They maybe getting desperate for cash and will sell even if the oil price is low to kick start their move away from oil its only 5% they are selling to be fair.

[timmy11] 04/9/2019 15:50

04 September 2019
Petrofac awarded major North Sea contract extension
Petrofac has been awarded a major contract extension in support of Repsol Sinopec Resources UK Limited’s North Sea operations.

Petrofac will provide engineering support services as a tier 1 contractor for brownfield modifications and projects across Repsol Sinopec Resources UK’s operated assets and terminal at Flotta.

Nick Shorten, Managing Director for Petrofac Engineering and Production Services West, said:

[wolfhound1] 03/9/2019 20:52

Recent FT article highlights former Trump staffer Dina Powell now at GS has been busy with Aramco execs with a view to GS getting a slice of IPO action...... they must be bringing something to the table....wonder what that might be.....lol

[pogue] 02/9/2019 22:19

Trump is against higher oil prices especially as we near the election year run up. US consumers are very vigilant on oil prices as there is very little tax on petrol so a rise in oil price makes a big bill for the drivers of all those large vehicles. I am not convinced Aramco want to list in US anyway as they don't want the scrutiny of their alleged oil reserves which have never decreased despite pumping them out 10 million barrels per day. The UK was favorite for the IPO I think as they were promising to bend over and waive a few rules to help them list. UK the place to do, dodgy, business lol.

[wolfhound1] 02/9/2019 12:39

Tweety-bird did the "dance of swords" and JC (s-i-l) seems tight with the Saudi prince , and IPO is worth a fortune so I suspect Tweets will want to do a "Deal" ... to get the IPO on US market and that will allow unprecedented US scrutiny (via exchange) of actual workings of Aramco...... they might need to march oil price up the hill even if it is only for a little while....... .

[pogue] 02/9/2019 08:06

Saudi have tried to get the Armco float of a couple of time but they could not get the oil price up. They have lost a lot of power to control the oil price due to the shale boom. As for a stable Saudi Trump is doing his best to pull out of the Middle East I posted an article a while back that suggests the Saudis are turning towards China and Russia for defence due to the American’s lack of willpower to put their men on the line for them. That should provide stability but it’s a big change and there maybe interesting times during the change over assuming Trump stays in power. All I see going forward is a vast oversupply of oil only held in check by Trump sanctions on Iran and Venezuela if he makes peace with either or he loses the election then all that oil is going to hit the market. He is also hitting the consumption side with his trade war. Trying to predict the oil price with him in charge is a lottery.

[wolfhound1] 02/9/2019 00:07

I suspect Peak Oil price will arrive around the time of Aramco IPO....perhaps sometime next year or year after.

When (not if IMHO) Aramco IPO's it will be the largest IPO ever...Saudi need it ...that can't keep tapping into the capital of soverign wealth fund to pay running costs to keep populace happy, furthermore west needs a strong Saudi to maintain status quo in middle east and a nemisis for Iran's ambitions in region. For a susccessful IPO by Saudi standards Oil price will need to rise between now and IPO peak IMHO....

Current valuation of Aramco are about $1.3 trillion to $1.5 trillion - they want $2 trillion - so that implies they need a heafy 25 - 45% rise in the price of Oil up towards $80+ per barrel......

[pogue] 31/8/2019 10:59

Risk tolerant is the word as you betting on the oil price which is going to go up maybe for a week or two with hurricane Dorian but more longer term nobody is feeling bullish. From the analysis posted I suggest the following paragraph is the only one worth looking at



'More critical perhaps are factors affecting demand: oil & gas-field services tend to be highly sensitive to energy prices where on a supportive view, OPEC appears better-organised as a cartel (why petrol prices have risen); but beware also how oil prices fall whenever recession fears strike markets, anticipating lower demand.'

So if you think the world economy is looking good right now then invest if not consider it a coin toss investment. I am in the latter camp.