Petrofac Share Discussion Threads

[binarypilot] 29/3/2021 09:21

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Petrofuc'd


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[halfpenny] 29/3/2021 09:02

PFC get ready news flow as its end of QTR and should be great news flow. PFC now lean and mean machine ready for growth. Just waiting for 100p then we are off to the races...target 150p plus

[epo001] 28/3/2021 20:09

Timmy, you missed 'filtered'.

[timmy11] 28/3/2021 14:03

lodgeview...either works in the sfo , is a shorter, or is mentally unstable

can we have a vote on which of the 3 he / She is

[cleverinvester] 28/3/2021 13:25

I'll take a chance on PFC.If things go right this could be a steal

[leoneobull] 28/3/2021 06:41

So, I do wonder about the UAE contracts. They had to be seen to act, but was this a temporary measure until a DPA is agreed with SFO in next few months then the tenders get retendered afterwards?

[leoneobull] 28/3/2021 06:40

GIlljoe lSEYes, reduction in backlog numbers in successive years may look alarming but it should also be noted that the number of employees have reduced from around 19,000 at the end of 2015 to around 10,700 currently! Since PFC have of late repeatedly stated that they intend to right-size their operations into a leaner business setup it might be the the Board's decision to henceforth target only projects up to a certain size and maintain the backlog at a level that can be sufficiently serviced by current employee levels. Considerable bidding expenses would have been incurred on the now "lost" US14 billion ADNOC tenders. PFC were looking good on the retendered $1.5 billion Dalma packages (which they had been awarded last year) as well as being L1 on the $1billion Belbazem offshore project in partnership with NPCC. Also in partnership with Saipem, PFC were L1 on the $1+billion Umm Shaif Gas Cap project. Remains to be seen how ADNOC will proceed with these projects since PFC were bidding in consortium and not alone when the suspension notice was announced. In addition to the above PFC were also bidding with Samsung for the 4 mega packages of the Hail & Ghasha projects with bids approximately totaling US$8 billion. Bidding for mega projects will require more staff and given the much leaner organization that PFC is now, might be one of the reasons for pulling out of the US$4 billion Iraq CSSP recently.

[cleverinvester] 28/3/2021 00:16

Lodgeview we are here for you

[lodgeview] 27/3/2021 17:59

Its over for PFC

[cleverinvester] 27/3/2021 12:34

I do hope lodge view is ok. never let things get to that stage .Seek help Lodge view.Remember talk about your feelings...

[dealy] 27/3/2021 09:52

meanwhile the company will like win plenty of orders and will strengthen its market position and balance sheet.

[lowtrawler] 27/3/2021 09:37

The SFO indicate that it is only a mention hearing for Lurfkin on the 21 June and so unlikely it will be the end of his case at that time. Until Lurfkin is dealt with, I don't see the SFO closing out on PFC.Unfortunately, it means PFC will be a shorters playground for another few months.

[leoneobull] 27/3/2021 05:39

Sorry to hear that lodge view. Please call the Samaritans

[plunger2] 26/3/2021 14:25

I wouldn't pretend to know what's going on.
But I strongly suspect PFC and ADNOC know what's going on ;)

Volumes very thin today.
This stock looks very cheap to me.

GLA JMHO

[cleverinvester] 26/3/2021 13:50

Half penny you said PFC are bust last week...please explain the incredible turn around?

[runner2018] 26/3/2021 11:56

Just been looking on maps Petrofac have an office on Jermyn Street, would be nice to walk by there one day i guess..

[halfpenny] 26/3/2021 10:50

PFC news flow should soon start and as we all know PFC can rise rapidly. I am more confident now there is strong support at these levels. 100p breakthrough soon as news flow. Strong rises ahead my charts..150p soon

[dealy] 26/3/2021 10:39

Decisions like this can come at any time. For example a new board member or a new compliance officer can introduce new policies

[comedy] 26/3/2021 10:31

dealy you would expect them to have announced that in the previous 4 years???

now when case will finish ,however that is agreed a bit late to chuck a snowball???

[eodfire] 26/3/2021 10:22

Not uncommon to see an overreaction. Means I've been able to buy in around a quid. Good risk / reward ratio here IMO.

[dealy] 26/3/2021 10:08

Just a reminder of what has happened here over the last 2 weeks: the stock is down from 135p to 95p because the UAE said "no new orders for Petrofac until we have clarity on the bribery case".Not a surprising stance given that the bribery is alleged to gave happened there, albeit several years ago. All seems a bit over the top to me.