Our stories, told by our people, on the topics that matter to Petrofac. Ayman Asfari, CEO of Petrofac Limited, said: "This is an important step for Petrofac. Petrofac's Latest News, Blogs, Press Releases & Videos Petrofac Articles December 23, 2022 Insider co uk News Petrofac's offshore workers begin 24-hour strike Two separate disputes will also see workers walkout at the end of this month. Human error to blame for train crash - Greek PM, At the crash site of 'no hope' - BBC reporter in Greece. It reported a pre-tax loss of $180m during 2020, as revenue dropped from $5.5bn to $4.1bn and contracts shrunk. By ITP Tue 16 Mar 2021. Time for a, Shorter attack.Bonds prices fallingand this is because of a, pepe: "In that case, stock price would be trending up nicely." Find put more about our drive to deliver a sustainable energy sector while delivering superior returns to our investors. Compare Standard and Premium Digital here. Petrofac to plead guilty to seven bribery offences. City sources told The Sunday . Find all the documents related to our refinancing on our dedicated page. The company estimated the overall pipeline for work at $45bn, compared with $46bn at this point . Find our more about our Board members, their priorities and roles. We design, build, manage, and maintain oil, gas, refining, petrochemicals, and new energies infrastructure. Save. Petrofac has been notified by ADNOC Group that it has been suspended from competing for new awards until further notice.. Former senior executive David Lufkin pleaded guilty at Westminster Magistrates' Court in January to three further bribery offences in relation to oil deals in the UAE, according to Reuters.The charges are in addition to 11 charges of bribery already brought by the Serious . Energy transition is at the core of our global strategy, creating long-term value for our clients, stakeholders, and teams. The industry leader for online information for tax, accounting and finance professionals. Net . More than four decades of delivering the most significant energy projects across the globe. Expert insights, analysis and smart data help you cut through the noise to spot trends, Following a four-year investigation, the SFO said it had reached a plea agreement with Petrofac, whose representatives appeared at Westminster Magistrates Court on Friday. Petrofac Limited admitted that it failed to prevent former senior executives of the Petrofac Group from paying GBP 32 million (USD 44 million) in bribes, to help the Petrofac Group win over. Home News Petrofac up on Schlumberger takeover speculation, CEO Ayman Asfari dismisses reports that Petrofac is a takeover target. Every story from every site is brought to you automatically and continuously 24/7, within around 10 minutes of publication. latest stories on the British multinational oil and gas company founded in London in 1981. The case was sent to Southwark Crown Court where Petrofac will enter its pleas on Monday. Oct 4 (Reuters) - British oil services company Petrofac (PFC.L) was fined 77 million pounds ($105 million) on Monday and a former executive received a two-year suspended sentence after both . Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously. Aug 17, 2016 15:47 EEST . We are required to publish certain news in accordance with regulatory rules. Find a list of industry and trade events we are taking part in. We are an ambitious company which strives to maintain its position as the first choice provider of operations management, maintenance, engineering and construction services to the oil, gas and petrochemical industries worldwide., Petrofac Limited 2023 Registered Office: 26 New Street, St Helier, Jersey, JE2 3RA, Competence management systems and software, Petrofac to take over management of a further two North Sea platforms. Published by ITP Media Group. We have solid experience and a proven operational delivery, along with a strong safety record in delivering projects in refining and petrochemicals. These levels provide an opportunity for a hostile or agreed bid so look out for a burst of activity as RNS. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. N.B. Our trusted partners offer trading courses designed for every level. Key statistics On Friday, MGC Pharmaceuticals Ltd (MXC:ASX) closed at 0.011, 22.22% above the 52 week low of 0.009 set on Jan 25, 2023. Find put more about our drive to deliver a sustainable energy sector while delivering superior returns to our investors. Hear from some of the people helping our clients meet the worlds evolving energy needs. "This period has also been challenging following the SFO's announcement in early January. Petrofac seen falling to FY underlying loss (Sharecast News) - Energy services company Petrofac warned on Tuesday that it expects to report a full-year underlying loss of approximately. Browse our locations and find contact information of our global offices. I am quite a stale bull on Petrofac having had a broadly positive view in recent years and suggesting it as a 'buy . Petrofac is now frozen out of new contract awards in the Middle East's three largest oil producers - Saudi Arabia, Abu Dhabi and Iraq. Join over 300,000 Finance professionals who already subscribe to the FT. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. -7.00M. However, I am reassured by our uncompromising approach to compliance and ethics that is consistent with international best practice, independently audited, and critical to our future success.". Petrofac, the Aberdeen-based oil services company, is raising 200 million ($275m) in a placing and open offer which will pay for its recent fine for bribery offences. Petrofac: is it time to buy into this battered stock? 19 Mar 2021 Issue: 64 / 11 By: Jamie Ingram. An utter dog. PFC have many deals in the pipeline and renewable contracts with more to come. Petrofac also wants to expand into a broader range of energy sectors, including carbon capture and storage, hydrogen and waste-to-fuels. The former global head of sales for Petrofac pleaded guilty to eleven counts of bribery in 2019, and a further three counts in 2021. More about our structure and how we are set up to deliver for our clients. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. and other data for a number of reasons, such as keeping FT Sites reliable and secure, offers FT membership to read for free. 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ICR Integrity wins major contract from Petrofac for innovative oil and gas solutions, Wood Group offer will increase interest in energy services sector - broker, Powerhouse Energy agrees services role for Petrofac, Powerhouse Energy signs framework services agreement with Petrofac, Powerhouse Energy shares rise on deal with Petrofac, Deal struck to help drive forward energy from waste projects, In brief: Powerhouse Energy shares rise on Petrofac services deal, ICR Integrity announces major contract win with Petrofac, Icr secures major North Sea contract with Petrofac, Small-CAP winners & losers: Petrofac, Enquest price targets cut, Powerhouse Energy Shares Rise on Deal With Petrofac, Wave of unrest across UKs offshore energy sector grows with more workers to cast votes on strike action, Petrofac, Wood workers on Ithaca, Taqa North Sea assets to vote on strikes, Petrofac Ithaca and Wood Group latest offshore workers balloted as wave of industrial unrest grows, Petrofac workers on BP North Sea assets begin fresh round of strikes, Petrofac workers resume 48-hour strike action, John Wood Group rejects takeover bids from US private equity firm Apollo, Wood Group reveals receipt of unsolicited proposals, U.S. drillers cut the most oil and gas rigs in a month since June 2020 - Baker Hughes, US natgas rig count unchanged at 151 - Baker Hughes, UK regulator OKs Baker Hughes acquisition in wake of archer deal, UK competition watchdog okays Baker Hughes-Altus deal, Saipem awarded $400 million drilling contract offshore West Africa, Saipem wins $400m Ivory Coast drilling contract, Saipem and Seaway7 strike offshore wind partnership, Saipem and Seaway7 to jointly tackle offshore wind projects, $18b penalty if Pakistan terminates Iran gas pipeline agreement. All quotes delayed a minimum of 15 minutes. Read our in-depth reports. Want to bookmark your favourite articles and stories to read or reference later? What investors have to consider now is whether the company, which has otherwise done much to try to improve its fundamentals in the last year, will be able to draw a line in the sand and move on from the affair and whether its now therefore a buy. Ayman Asfari, the Syrian-born executive who . Find out more about our investment case, our strategy, and our financial performance. Theres discounts on some courses too. David Lufkin, a British national and the former Global Head of Sales at Petrofac, pleaded guilty to three counts of bribery in relation to corrupt offers and payments made between 2012 and 2018 to influence the award of contracts to Petrofac in the UAE worth approximately $3.3 billion. The suspension is subject to review so theres hope for Petrofac that its not permanent. The SFO's investigation has secured a guilty plea from a senior former executive, David Lufkin. The SFO had already secured guilty pleas from David Lufkin, a former executive, surrounding payments totalling 81 million dollars (60 million at todays exchange rate) to win contracts worth about 7.5 billion dollars. We are designing, building and operating onshore and offshore facilities, and training the people who support them. The penalty includes a $64 million fine and a $31 . The company also manages the Northern Producer, (Galley field), Montrose, Arbroath, Kittiwake, Hewett & Bacton Terminal facilities. UK's Petrofac Romania takeover by Expert Petroleum gets antitrust nod. This has improved liquidity with a . The last trading update was December: Https://www.investeg ate.co.uk/petrofac-l imited--pfc-/eqs/tra ding-update/20221220 070006EPNDU/ This is the one that announced: Touch device users, explore by touch or with swipe gestures. 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