Petrofac Share Discussion Threads

[pogue] 30/9/2019 09:13

Have a look at the oil price and sentiment for it.

[computercoders] 30/9/2019 08:21

Why did it drop again after the recent rise? Usual trading pattern? Never drops much lower than this maybe test 370

[wolfhound1] 29/9/2019 16:35

From investor.com

Technically, the price of WTI has been bouncing off its low for three straight days, above the bottom of a rising channel since July. Prices have been fluctuating between the 200 DMA and 50 DMA after the two have been intertwining throughout the emergence of the pattern, denoting the potential for an explosive move.

Time will tell......

[notimpressed] 27/9/2019 17:02

we need a sizeable contract win

[wolfhound1] 25/9/2019 15:32

.....always possible Iran decide they need to further stymie the capacity side of the equation and drive up price....maximise their gain

Tweety seen as weak especially if fighting possible impeachment process

[wolfhound1] 25/9/2019 14:17

I concur Pogue, see my earlier post.... suspicion was raised that perhaps Saudi were buying in "capacity from Iraq with Iran smuggling into Iran.......

[pogue] 25/9/2019 12:14

Something very suspicious about Saudi returning to full capacity so soon

The pictures I saw off the damage was not repairable within a week even if they had everything they needed in stores which in its self is totally unrealistic. I am beginning to suspect they were running nowhere near full production, something I mention last week, hence restoring back to that level was relatively simple as transferring production to units that were not in use. The more likely answer however is they are lying and using reserves to meet missing supply along with restoring some lost production from idle units. Time will tell.

[scooper72] 25/9/2019 09:56

Well I'm back in today to top up. Sold a quarter of my holding a few weeks ago at 451 so feel slightly justified for taking a bit more exposure nowit has drifted back down.

[notimpressed] 25/9/2019 09:50

disclosed shorts now 3.57%

[wolfhound1] 24/9/2019 11:45

Read an interesting piece on oilprice.com key points as follows:

Irans plan to beat the embargo
*Saudi will not have oil production back for several months (5mn bpd)
*Saudi reserves small perhaps about a month at most (globally)
* Saudis forced to buy from Iraq to cover capacity
* Iran will smuggle via Iraq to beat embargo
*US wont want a rising price in an election yr so turn a blind eye

Possible addnl considerations :
* will Iraq double down on this ( i.e. more attacks in ME)
* no reason for the US to circumvent given its an election year
* increasing instability both in short term and longer term once Saudis production comes back on tap....
* iraq will also want oil to go higher - maximise cash whilst Saudi struggle, hit Tweety in an election year

[pogue] 24/9/2019 07:52

ADNOC have circa $2 billion worth of contracts to award going forward that maintenance services contract is peanuts, there is a chance they have deliberately bid low/below profit levels just to get in on the bidders list, not an uncommon tactic when large contracts are in the air. Winning the large contracts is no guarantee of making a large profit either I should caution as ADNOC are traditional Arabs in that they want everything at the cheapest price so winning a bid for them can be a poisoned chalice with little profit and a lot of stress. I am speaking from recent experience of dealing with them from the contractor side.

[wolfhound1] 23/9/2019 22:55

Further reduction in shorts.....

[hmgouda] 23/9/2019 18:57

Petrofac awarded maintenance services contract for ADNOC's Al Dhafra Petroleum

[hmgouda] 23/9/2019 18:56

https://www.oilfieldtechnology.com/drilling-and-production/19092019/petrofac-awarded-maintenance-services-contract-for-adnocs-al-dhafra-petroleum/

[d1nga] 23/9/2019 11:13

Because crude is off a dollar and a half ,possibly.

[ashwani01] 23/9/2019 10:18

So why is PFC share price not seeing the benefit of this ?

[luderitz] 20/9/2019 14:06

I agree Wolffy I’ve always traded PFC as a play on oil prices and to add the fact that there is no SD to pay makes it more attractive.

[wolfhound1] 20/9/2019 12:26

I don't believe we have seen the end of hostilities in ME and uncertainty will continue.....

[knowing] 19/9/2019 23:38

My only concern here is that the chart is making lower highs.

[wolfhound1] 19/9/2019 22:59

Polar capital closed out their short - overall PFC short down to 4.2%

Are we about to get some news........?

[dr_smith] 19/9/2019 14:29

In case you missed the rns with midday release:
Petrofac Sells Remaining 51% of Mexican Operations

[wolfhound1] 18/9/2019 17:55

Big 0.67% reduction of short by polar capital now at 0.5% so just hovering on reporting threshold - overall pfc short now 4.7%