Petrofac Share Discussion Threads

[topazfrenzy] 15/6/2020 09:02

Thanks for the cheap shares

[topazfrenzy] 12/6/2020 08:12

I bought the dip in the 180's I hope you did too

[topazfrenzy] 11/6/2020 20:52

bought too early lol, carnage tomorrow?

[topazfrenzy] 11/6/2020 12:23

Buy the dip!

[pogue] 10/6/2020 22:17

I believe we are in a spike caused by the sudden resurgence in demand which production will ramp up to meet but there is a time delay to restart production hence the spike. There is also the issue of the large amount off oil in storage to be sold. On the other side off the equation there is the OPEC+ production cuts which are in place but Nigeria and Iraq are not even trying to comply there and these will be dropped when oil starts moving as everyone needs money coming in to cover their loses and I don't see OPEC+ letting others take their market share.

I do not believe oil can go higher than the low $60s for some time reasons are thus:-
Pre CV19 the oil market was in surplus and the price war started as Russia refused to increase its cuts. We were about 105 mbpd consumption and about 110 mbpd production capacity, CV19 took out over 20 mbpd of demand, some say nearer 30mbpd. Production was shut off in many places and cuts by OPEC+ of nearly 10mbpd did not halt the slide in the price of oil. We are now heading into a world wide recession oil demand is never going to come close to 105mbpd for a long, long time and since very little oil production was actually lost, only a few old wells will be too expensive to restart so 99% of total world production capacity is still there and as demand increases production will restart to meet it however as I said there is a time delay in getting oil back into production hence more spikes. The $60ish price ceiling I see is where we were before CV19 plus Trump wants to keep oil in that region so will not let it go past there as it will hurt the damaged US economy. He will strong arm the Saudis as he did before to increase production cuts. If Biden gets in short term that is good for world oil prices as the Dems hate oil so will do everything to hurt Republican oilers and cut production in the US however they also loved the Obama nuclear deal with Iran so if they reinstate that then Iranian oil, circa 4mbpd comes back on the legal market and price of oil will fall again.

Not a positive outlook I am afraid but predicting oil price more than a month or 2 in advance is a mugs game as there are way too many variables and black swans so who knows but for me those are the drivers of the price I see going forward.

[wolfhound1] 10/6/2020 21:35

Any views on where poo is likely to be in 3 months ?

[pogue] 10/6/2020 11:07

Supporting a FEED on this project is going to be £peanuts however the move towards the hydrogen market is good as that is where the whole contracting industry is moving right now. They seem to have the right idea.

[1cripes] 08/6/2020 14:07

Reinstatement of divi, reinstatement of the 1.5 billion contract recently put on hold and resolution of the SFO would go some way to push this towards 4.50/5. Need the macro climate to maintain the current positive direction though with poo maintaining plus $40 bucks a barrel.
Happy days!

[killman2] 08/6/2020 13:34

was expecting / anticipating above £3.50 over the next few months in the run up to the next divvi, but obviously if the good news gets factored in quickly a run up to a fiver could be on the horizon...here's hoping..

[ammu12] 08/6/2020 13:21

What's fair value to you ?I am hoping for £5 at some stage once sfo is over.

[killman2] 08/6/2020 13:03

quietly accumulating, contentendly as it moves back to a fair value...good news coming soon we hope..

[ammu12] 08/6/2020 12:37

Very quiet here.....Massively undervalued this

[topazfrenzy] 05/6/2020 14:30

it's worth £3.50 all day long!

[topazfrenzy] 05/6/2020 14:30

had to add some more, it's still way too cheap

[killman2] 05/6/2020 14:23

wouldn't like to be out of this stock over the weekend...buy! buy! buy! imho dyor etc etc...

[ammu12] 05/6/2020 10:10

They have to let this go at some point...Oil rising should help with getting more contracts in future!!

[d1nga] 05/6/2020 10:00

You don't say

[ammu12] 05/6/2020 09:35

That's been one of the reasons other than oil why pfc has fallen from £8 - £9. Once a decision is made this will rise imo...

[d1nga] 05/6/2020 09:32

Should get old baileys verdict soon, more deliberations than a clear cut not guilty, so less confident about a not guilty now.

Going to fly if they pull the rabbit out of the hat

[ammu12] 05/6/2020 09:16

PFC could be the next to rise...This one hasn't risen yet since the covid drop

[killman2] 05/6/2020 08:28

train is leaving the station...