Petrofac Share Discussion Threads

[dealy] 16/3/2021 13:52

I think yesterday's RNS showed that they are on the back foot not the front one.

[ttny2004] 16/3/2021 13:48

Dealy. Totally agree. However, how do you / we know they have not done that already? One would assume that to be the case. Otherwise, BoD should resign IMHO as fundamentals

[dealy] 16/3/2021 12:52

Lesson here is when the SFO launches bribery claims you have to immediately engage with them. Immediately set aside money for a fine. Immediately talk to all of your clients. Immediately have external auditors check and improve your processes. Head in sand and blind hope are not strategies.

[stalker_boy] 16/3/2021 12:17

A win is a win and good then that the company is also already working with Sinopec

[milanista11] 16/3/2021 11:54

Stalker_Boy
The Basra refinery contract is an extension of a previous contract. And in Saudi Arabia there were 3 huge contracts with Aramco beginning in 2012 and executed in 2019. No big contract since then. Look at the web site of Petrofac Saudi Arabia.
I noticed that the Chinese through Sinopec and subsidiaries are penetrating the market in Iraq and Saudi Arabia.

[los pollos hermanos] 16/3/2021 11:52

but you encouraged folks to buy NOG and PFC right??? I thought you posted you filtered the chin chin. So it seems you are liar too.

Are you refreshing the page every 5 secs???

[wigwammer] 16/3/2021 11:50

"Me ol china" .. same poster who encouraged people to sell cine and dlar at the bottom .. got a massive chip on his shoulder which is why he follows me around :)

[mathematica] 16/3/2021 11:49

Can we go blue today?

[pepepepe73] 16/3/2021 11:36

me ole china, yes they have to pay bribes to work on those countries, but the fact here is they wer caught (al least one former top executive).

Since that, SFO is playing clearly with time and is putting PFC on an extreme situation.

Seems this is not going to end well for PFC

[me ole china] 16/3/2021 11:33

Stalker Boy do you realise most of the countries they operate, you have to pay bribes for contracts!!!!

[stalker_boy] 16/3/2021 11:29

I would be very careful of the misinformation being posted here. Petrofac won a contract in Iraq in May with the Basra refinery and they also have a JV with Saudi Aramco.

[schrodinger cat] 16/3/2021 11:24

Only way to attract buyers, is a quick flush down circa 40p, liquidate the stale holders.

[stalker_boy] 16/3/2021 11:23

The allegations regarding the UAE came to light in January this year and prompted ADNOC to suspend Petrofac from bidding currently. The other allegations for which Petrofac are accused were from between 2012 and 2018. The latest ones were only known about when Lufkin wanted to clean the slate prior to sentencing. If anyone other allegations were to be tabled this would have happened in January.

Clear the SFO probe one way or another and then true value will be seen.

[milanista11] 16/3/2021 11:20

It is not only the UAE that is boycotting PFC but also Saudi Arabia and Iraq. Since the beginning of the investigations PFC has not pocketed One significant contract from that side.

[epo001] 16/3/2021 11:18

What proportion of PFC's revenue does UAE represent, currently and historically? This is about 25% down over 2 days but that can't represent share of income can it? I'd imagine that part of the uncertainty here is whether other countries follow suit.

I'm well down but pondering a topup limit buy at about 85p.

[milanista11] 16/3/2021 11:10

The Wood Group is preparing to pay a penalty of USD 196 millions to settle a bribery case with SFO and other authorities. Previously they wanted to settle with Usd 46 millions. The case was a legacy from Amec Foster Wheeler and subsequently they mergered with John Wood Plc. Likely to PFC the case emerged during the investigations into Unaoil.

[bad robot] 16/3/2021 10:56

I am afraid, it's drip drip drip mode, till I order my team to close circa 4.0p. Many of your colleagues here been processed the same way by the Red Mercury Crew on many many many bad shs.

Hope this helps.


BR
IN BR WE TRUST
Red Mercury Crew

[dev80] 16/3/2021 10:52

You aint got no team you sad wet wipe. Do one

[bad robot] 16/3/2021 10:36

We will be cutting this down everyday by 10%-15% for the next 10 days.

Hope this helps.


BR
IN BR WE TRUST
Red Mercury Crew

[stalker_boy] 16/3/2021 10:34

It's only a suspension until things are clarified. A lifting of it will see a massive short covering.

[topazfrenzy] 16/3/2021 10:29

A lot of churning going on around £1 ..

A new contract and we'll be back at £1.20 imo

[bad robot] 16/3/2021 10:25

My Team shorted Aston Martin from 1200p to 50p. We always short bad shs by -80%-90%. Metro from 1300p to 70p.

Hope this helps.


BR
IN BR WE TRUST
Red Mercury Crew