Petrofac Share Discussion Threads

[pepepepe73] 23/3/2021 08:11

Shorts are on heading this to south.

[wardy333] 23/3/2021 07:52

Shorts increased here not a good sign, not holding currently, but they will struggle to get this below 90p I reckon.

[comedy] 23/3/2021 07:23

Bought more this week, see it as one of the best recovery stocks with a 2 month timeline

[laptop15] 22/3/2021 23:16

Who's in and who's out? I bought back today at 95.5p....should go back up again soon imo

[secretsqu] 22/3/2021 23:02

Probably a good idea to stop posting links to somebody who clearly hasn't got a clue what they talking about.The airlines rec's. Oh dear.

[fizzmiss] 22/3/2021 21:06

The only difference between PFC and other companies is they got caught and not surprised the Saudis have canceled deals with PFC.. The reason being they won't get any more backhander bribes from PFC but will from others.

The Saudis speak as if they are squeaky clean lol,

[leoneobull] 22/3/2021 19:14

Here is a video setting out the bleak picture for PFC.. ..then at end the bloke says he has bought as he likes a punt...https://www.youtube.com/watch?v=jL1Y8XJIN1g

[sbb1x] 22/3/2021 17:30

CapeView Capital LLP short position in PETROFAC LTD up 0.12% to 1.14% #PFC $PFC #LSE #StockMarket #Stocks #Shares #Business #Markets #Trading #News #Investing #Short https://t.co/vM411LdLkR

[sbb1x] 22/3/2021 17:28

WorldQuant LLC short position in PETROFAC LTD up 0.24% to 0.77% #PFC $PFC #LSE #StockMarket #Stocks #Shares #Business #Markets #Trading #News #Investing #Short https://t.co/vM411LdLkR

[stockready] 22/3/2021 16:58

Lowtra

You need to read my posts properly
I never said they are not cooperating
I said they are not taking a lead and be active to lead this to conclusion
There is a difference between active cooperation and PASSIVE one, they are the latter.

These people still think SFO yet to prove the case otherwise they have nothing

How stupid and wrong they are with that attitude.
I know these from some of the close people working in the company and this is the attitude which is so stupid

Meaning they will lose everything

Please read my couple of posts which i highlighted this in details

SFO got loads on PFC and they just need to admit the wrong pay the big fine and move on.


So easy to say they cooperating in every RNS because they have to make investors happy in reality their corporation is truly minimum so the reason for where we are today.

This will go no where till that is fully resolved

GLA
DYOR

[pogue] 22/3/2021 16:57

timmy11
the Aberdeen jobs, what's left of them as many have been laid of due budget cuts by oil companies due to CV19, would transfer to another contractor in Aberdeen as the rigs they maintain will not disappear so the engineers will move to another company in Aberdeen. There is also an office in Woking but they dont employ many and mainly do FEED work. Their biggest offices are in Sharjah, which can hold 4000 employees mainly Indian and Arab engineers, again I doubt there are anywhere near that number working there just now. Overall the SFO is only really hitting the tax revenue to HM Gov so not really a big issue hitting PFC.

[secretsqu] 22/3/2021 16:57

Why post the link twice?

[lowtrawler] 22/3/2021 16:44

lodgeview, like all shorts, it's easy money until it isn't. In terms of active trading, shorts far exceed longs for PFC and so are able to drag the price pretty much anywhere they want. The elephant in the room is whatever the SFO decide to do. My guess is that shorter's aren't currently concerned that PFC will get a resolution to that anytime soon and so will continue playing their games. The institutional shorter's will undoubtedly have an inside track on the investigation and so can clear their shorts before any announcement. The small scale shorter's always end up burnt in the end-game. I'm currently not invested because the shorter's have control but once Lurfkin is sentenced, I'll consider taking a new position.

[lodgeview] 22/3/2021 16:25

Down, down and down she goes...Shorters in total control. Easy money for them isn't it?

[drakey74] 22/3/2021 15:37

a bit like Elton John

[dealy] 22/3/2021 15:13

they don't care

[bracke] 22/3/2021 15:04

I suspect the US authorities are more pragmatic.

[timmy11] 22/3/2021 14:49

bracke.. that's a good point ..maybe they should

not liked here, USA, will welcome with open arms

[bracke] 22/3/2021 14:43

Perhaps PFC would be better off operating out of the US and not the UK?

[timmy11] 22/3/2021 14:31

The U.K.’s major economic crimes agency on Thursday said it had closed a bribery-related probe into subsidiaries of U.S. engineering firm KBR Inc.

Evidence collected during the nearly four-year investigation didn’t meet standards for pursuing a prosecution against U.K. subsidiaries of the Houston-based company, the U.K. Serious Fraud Office said.

The SFO opened its investigation into KBR in 2017 after media reports alleged Monaco-based contractor Unaoil Group had paid bribes for a bevy of companies in the energy sector, including KBR.

Results of the SFO’s Unaoil probes have been mixed. Prosecutors recently secured convictions of four individuals connected to the contractor, and the agency continues to pursue investigations into U.K. energy services companies Petrofac Ltd. and Amec Foster Wheeler, which was acquired by John Wood Group PLC in 2017.

John Wood Group said on Wednesday it expects to resolve Unaoil-related investigations into Amec Foster Wheeler and other legacy companies for around $197 million.

But the SFO has also halted several of its initial inquiries. In addition to its probe of KBR, the agency last year closed an investigation into European engineering company ABB Ltd.’s dealings with Unaoil.

The closure of the KBR probe comes a month after the U.K.’s Supreme Court ruled the SFO erred in trying to use certain investigative powers to obtain evidence held at the company’s U.S. headquarters. The ruling stemmed from an order to produce evidence the SFO issued in 2017.

The KBR probe had been winding down for some time, according to the company. KBR last year said it had been notified by the SFO that the agency was no longer focused on allegations of corruption related to Unaoil. Other lines of inquiry remained open, the company said at the time.

U.S. prosecutors also closed a Unaoil-related investigation into the company, KBR said at the time.

In a statement Thursday, KBR said it was pleased with the SFO’s decision to close its remaining investigations into the company.

[timmy11] 22/3/2021 14:29

U.S.A Govt protects usa businesses
U.K destroys uk businesses

I wonder if any M.Ps are looking here,see what your govt is doing!!

[pogue] 22/3/2021 14:20

Very well summarised Lowtrawler.