Thousands of jobs at risk as Petrofac appoints administrators Business North Sea oil and energy services group Petrofac has appointed administrators, putting thousands of jobs at risk. The company said it took the decision after one of its customers, TenneT, terminated its relationship over a 2GW energy programme in the Netherlands. “Having carefully assessed its options, and the impact of TenneT’s decision… the directors of [...]
Barratt becomes one of the most hated shares in the UK despite Labour bounce Investing Barratt is due to make a trading announcement tomorrow. Analysts expect operating profit to more than halve from £863m to £357m for the year, thanks to higher interest rates and inflationary pressures.
Petrofac: Losses almost double after delayed results finally revealed Energy Losses at embattled oil services provider Petrofac almost doubled to more than $400m (£314m) during 2023 after its delayed accounts were finally published.
Petrofac shareholders could be set for wipeout as company considers debt swap April 29, 2024 Petrofac said this morning it would delay its full year 2023 results, which it now expects to publish by 31 May 2024.
Ocado enters most shorted UK companies list as Abrdn jumps to fourth. These two kept their top spots April 25, 2024 Ocado has entered the top 10 list of most shorted stocks this month, coming third, while Abrdn saw two new firms take positions out against it.
Petrofac mulls equity issuance as it battles to stay afloat April 12, 2024 Oil and gas exploration company Petrofac currently remains "in discussions" with its lenders over restructuring its massive debts, suggesting options such as exchanging equity in the business.
Most shorted companies revealed: Petrofac takes top spot February 12, 2024 Seven investment firms held short positions in Petrofac, with Helikon Investments Limited holding the largest position at 3.5 per cent.
Petrofac shares as it lays out plan to reverse cash-flow fears December 4, 2023 Petrofac, the struggling oil services provider, has today warned it will be forced to sell assets after warning on cash flow.
Covid’s lingering impact drags down Petrofac revenues August 11, 2022 Covid-19’s challenges for the industry are still being felt as Petrofac reported declining revenue in the first half of 2022 at $1.2bn (£0.98), a drop from the $1.6bn (£1.3bn) in the same period last year. The energy services company’s net loss was at $14m (£11.4) with EBIT at $2m (£1.6m), a contrast from the $49m [...]
Petrofac pushes for post-pandemic rebound as Covid-19 bites into profits June 28, 2022 Energy giant Petrofac is targeting a strong order intake in the second half of the year, as it grapples with lingering impact of the pandemic.
