Petrofac Share Discussion Threads

[computercoders] 16/4/2020 09:37

I was going to say... It isn't on any chart I've seen. All time low just been hit at 151 hasn't it. Anyway I'm in for 10k at 156.77 today.

[ny boy] 16/4/2020 09:37

These are the latest s/r but only for guidance as the share price has fallen through so many f them

Support1: 150.00 Support2: 124.80
Resistance1: 302.03 Resistance2: 396.00

Dyor as usual

[d1nga] 16/4/2020 09:32

He picked it out of thin air.

Could easily have been 190p

Hth

[computercoders] 16/4/2020 09:27

Where do you get 130 from?

[computercoders] 16/4/2020 09:25

Seemed to bounce hard off 151

[bulltradept] 16/4/2020 09:15

Why isn't this trading at £1.30?

[ny boy] 16/4/2020 08:54

Any news on the SFO investigation & the US regulatory investigation against Unioil ?

[d1nga] 16/4/2020 07:45

Seems likely some knew that RNS was on the way yesterday...

[wolfhound1] 15/4/2020 08:01

Thanks Pogue

[pogue] 14/4/2020 10:12

Interesting question, I never thought to try and cash in on that. In the US Cushing is the largest I assume, quick google and ...
There is a total of about 94 MMbbl of storage capacity at Cushing, the vast majority of it in Cushing South. Ownership of the hub's storage capacity is highly concentrated. More than 60% is owned by three companies: Plains All American (with 25 MMbbl), Enbridge (20 MMbbl) and Magellan Midstream Partners (12 MMbbl)

If you want to make money on storage though the place to be is the oil tanker fleets their rates are going through the roof as they are effectively large storage platforms.

[wolfhound1] 14/4/2020 00:19

Thanks Pogue, so who would you say are top 10 oil storers globally by capacity ?

[pogue] 13/4/2020 11:07

Wolf
There will be a lot of natural shut ins as the price off oil will not rise due to the oversupply so oil production will naturally stop. When global storage is full the price will drop again as you have nowhere to put the oil you produce so you will have some fields paying people to take it away as they cannot stop production without damaging the wells. Those with the ability to store oil will be kings.

[wolfhound1] 12/4/2020 22:21

Opec+ have agreed to cut production by 10bn bpd or 10% - lets see what happens to oil, Isuspect some of this has already been priced in, we may see further output cuts if supply continues to outstrip demand, bwthdik

[pogue] 11/4/2020 15:43

OK Jamirish.
There will be a time to buy PFC when oil starts rising again but its a long way away in my view. I am sitting on my losses here as I sold a load of other shares as the crash started and am reinvesting that money in other sectors.

[jamirish] 11/4/2020 13:05

Pogue my initial post for incorrect, I meant to say “I’ve no reason to doubt...”

[jamirish] 11/4/2020 06:11

All I know is I started investing in Petro in summer of 2017 and made significant profit(165k) up to this late 2019/crisis, now most of gone and so is the dividend. No movement on oil, oil demand or sfo for at least 9 months so I’m now thinking I’d be better off investing elsewhere to take advantage of post Covid bump and look back here early 2021.

[pogue] 10/4/2020 23:10

No idea how much the SFO investigation is affecting the share price but it’s not what drove the price to theses levels.
As for not believing what’s happening in the industry fine but this is not my first oil price crash and i have been working in contractors for 30 years so do have some knowledge off how this plays out.
What is your take on what is happening?

[jamirish] 10/4/2020 19:26

Pogue, I’ve reason to doubt your logic so if that is the case then what happened the share price and how much is the sfo investigation affecting the share price 100p?

[pogue] 10/4/2020 08:19

I have bad news for you killman contractors are toast this is the worst downturn ever in oil no company is going to be spending money for at least a year and current contracts will be shelved. I am seeing it at the coalface right now PFC is not going to recover for a while its survival mode for the entire industry for the rest of this year as we go into a recession, probably a depression, where oil demand is going to stay low, not this low but still below a level anyone is going to want to spend money on new oilfield equipment not even care and maintenance, I am seeing even those projects being savagely cut. PFC should not go bankrupt if you want good news.

[killman2] 10/4/2020 06:49

looks like a proxy war in the oil business...survivors dictate the oil price...but don't think PFC will end as collateral damage in the long run..imo...survivors survive..