Petrofac Share Discussion Threads

[lasata] 10/8/2020 14:28

when are the results due?

[topazfrenzy] 10/8/2020 11:26

Could easily get a 50% relief rally from here if results are decent

GLA

[penycae] 10/8/2020 10:54

Our local Police always keep their fines. How long has this Treasury business been going on?

[wallywoo] 10/8/2020 10:16

That's true bracke, but they will have targets and costs just the same.

Bgt a few more for the results tomorrow. Hopefully will get a relief rally since an awful lot of bad news is in this share price

[bracke] 10/8/2020 09:56

The SFO do not keep the fines. The fines go to the Treasury.

[wallywoo] 09/8/2020 18:02

Yes some new bird took over at the SFO in 2018, is starting to clear out the cases that were going nowhere.


That's the reason they dropped the ABB case. Hopefully pfc too! Not sure they are short of cash, didn't they just fine Airbus and Rolls Royce large fines.

[pogue] 09/8/2020 16:35

The SFO have been heavily criticized for losing money chasing cases they have lost so that would tend to make them focus more on winning cases and not losing money and wasting time and effort.

[fuji99] 09/8/2020 13:24

Wallywoo - Siemens had even an off shore account to pay for bribery. Rolls Royce had its own problems too. They are both still around and prospering, of course with RR. struggling during this pandemic.

[wallywoo] 09/8/2020 12:27

The SFO have a duty to the public rather than to make money. I am not sure whether attacking a company who merely was doing what was needed to win business is part of that. If it was made clear that Unaoil payments were a necessary cost to win that business, maybe SFO will pull out. It is obvious PFC have suffered enough, share price was 800+ in 2016!

[pogue] 09/8/2020 12:19

Might depend on how much the SFO would get in fines if they won whether its worth the time and cost if they think the defense case has any substance as court cases are a lottery many times so not worth the gamble.

[wallywoo] 09/8/2020 12:05

Well ABB admitted they paid bribes to win business. Pretty much the same thing IMO.


The issue here is that they decided it was not in the public interest to pursue the case. Put up or shut up!


Quite why is interesting, but IMO 4 years after first investigation (with no charges, as yet) is a very possible outcome here too. It's interesting that pfc didn't win many of the contracts where bribes were offered. Suggesting they were offered more elsewhere! The real crooks and the main cases have all been Unaoil.

[pogue] 09/8/2020 11:30

Did ABB have a employee that plead guilty like PFC though? It’s a different approach if you have that you have to prove your company innocent not SFO prove you guilty.

[wallywoo] 09/8/2020 10:44

Pfc are a tricky one imo. On one side you have the decreasing order book and difficulty in winning new business. And the SFO investigation.


On the other you have low debt, efficient business with long history of generating good returns and of course a low share price.


IMO with SFO pulling out of the ABB investigation in May and the likely business increase if pfc received the same. This is worth the risk. Short percentage is over 6 percent too, so always a chance of a short squeeze.

[pogue] 07/8/2020 12:21

Link to results of a larger competitor of PFC who are basically getting out of large fixed price EPC contracts and moving to home working and renewables with the emphasis on consultancy as they don't see money in the EPC area going forward.
There is a paragraph on Unaoil investigation, looks like they are getting off, but they did not have anyone pleading guilty I assume so evidence not so strong.

[markbelluk] 07/8/2020 10:06

Anyone care to guess at the state of results next week?

[pogue] 06/8/2020 14:30

Why? Doesn't look worth much contract wise though the value is missing from anywhere I look. There is not much money in renewables contracts from my experience unless you are looking at ammonia plants etc.

[topazfrenzy] 06/8/2020 13:45

'UK: Petrofac and Storegga partner to build new energy capability for the UK'

hxxps://www.energy-pedia.com/news/united-kingdom/petrofac-and-storegga-partner-to-build-new-energy-capability-for-the-uk-180243

Great news this

[topazfrenzy] 06/8/2020 13:43

'New Petrofac and Storegga partnership goes ‘above and beyond’ collaboration on Acorn project'

hxxps://www.energyvoice.com/oilandgas/north-sea/256999/petrofac-storegga-memorandum-of-understanding/

[topazfrenzy] 06/8/2020 13:35

news leaking

[topazfrenzy] 06/8/2020 12:46

This is holding up nicely against the rest of the market

someone knows something ...

[action] 05/8/2020 22:38

I read someone saying here when share price was 225p that he/she bought at 146p and tucked away . Thank you as when I saw low of 143p I followed the advice.

[wallywoo] 05/8/2020 18:53

Share investment can be a tough game. Drifting down to all time lows, then pop for no reason up 6.6 percent.Let's hope it continues and reinforced by the results next week. A dividend would be nice too!

[ny boy] 05/8/2020 12:10

Support1: 1.51p Support2: 1.26p

Personally I would wait until the outcome of the SFO case before making an investment