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Latest Finance News related to Petrofac

Petrofac's move to appease SFO offers fuel for thought | Nils Pratley image
. When the Serious Fraud Office announced two weeks ago it was investigating suspected bribery, corruption and money laundering at Petrofac, shares in the oil services firm fell 14%. ...
Petrofac executive suspended amid fraud probe image
Source : BBC [Read Article] Thursday 25th of May 2017 11:29:00 AM
. Shares in Petrofac have dived almost 30% after the oilfield services firm suspended its chief operating officer Marwan Chedid amid a fraud inquiry. ...
FTSE ends flat as Wizz Air takes off image
Source : BBC [Read Article] Thursday 25th of May 2017 08:01:17 AM
....The Budapest-based carrier also said it had enjoyed a strong start to the current financial year, and forecast group net profit would be between 250m and 270m euros. Another big mover in the FTSE 250 - but in the opposite direction - was Petrofac. ...
Oil bosses have given £390,000 to Tories under Theresa May image
Source : Guardian [Read Article] Tuesday 23rd of May 2017 05:00:43 AM
....Oil executives whose industry is promised further government support if the Conservatives are returned to power have given more than £390,000 to the party since Theresa May became prime minister. They include Ian Taylor, the chief executive of Vitol, whose firm was fined for making payments to an Iraqi state-owned firm, and Ayman Asfari, the chief executive of Petrofac, who was recently interviewed by the Serious Fraud Office over suspected corruption. ...
Tories receive £50,000 from man questioned by Serious Fraud Office image
Source : Guardian [Read Article] Thursday 18th of May 2017 02:12:09 PM
....Theresa May’s election campaign has received a £50,000 donation from a Syrian-born businessman who was recently interviewed by the Serious Fraud Office, according to official data. Ayman Asfari, the chief executive of the oil services group Petrofac, gave the money to the Tories just days before the Guardian disclosed that he was recently interviewed under caution by the Serious Fraud Office (SFO) over suspected bribery, corruption and money laundering by the company. ...
Tory donor questioned by SFO over corruption claims at Petrofac image
Source : Guardian [Read Article] Friday 12th of May 2017 04:47:44 PM
....The Serious Fraud Office has launched an investigation into a company run by a major Conservative donor who is one of the prime minister’s business ambassadors. Petrofac, which provides services to the oil and gas industry, is being investigated by the SFO over suspected bribery, corruption and money laundering. ...
The week ahead in business and finance image
Source : Telegraph [Read Article] Sunday 21st of February 2016 07:51:51 PM
.... Interim results: Town Centre Securities, Hays, Wilmington Group, McBride, Tristel, Barratt Developments . Final results: Petrofac, New World Resources, Harworth Estates Group, Rathbone Brothers, Interserve, Weir Group, Capital & Counties Properties . ...
Hedge fund giant Citadel takes out bet against Schroders image
Source : Telegraph [Read Article] Saturday 13th of February 2016 08:02:36 PM
.... . Citadel has a number of other large short positions in the London markets, including bets against EasyJet, Sainsbury’s, Petrofac and the B&Q owner Kingfisher. ...
Second wind for UK oil and gas? image
Source : BBC [Read Article] Monday 8th of February 2016 09:36:33 AM
.... The project faced restrictions on pipe-laying near shore during the season for seal pups being born. Petrofac, the large oilfield services company contracted to build the Shetland processing plant, will be relieved to pick up its tools and depart the site. ...
Could oil shares offer same returns as UK housing in the 90s? image
Source : Telegraph [Read Article] Sunday 7th of February 2016 09:36:25 PM
.... . The smaller players Petrofac and Lamprell also look too risky as they are dependent on spending plans further up the food chain. ...
North Sea firms call for ‘crucial’ Government action to save jobs image
Source : Telegraph [Read Article] Wednesday 20th of January 2016 02:19:54 PM
.... . Oil and gas services provider Petrofac is expected to slash almost 10pc of its 1,900 strong UK workforce as part of a restructuring plan and Conoco-Phillips will make 50 positions redundant. ...
BP to axe 1 in 5 North Sea jobs as oil giant cuts 4,000 staff worldwide image
Source : Guardian [Read Article] Tuesday 12th of January 2016 06:01:57 PM
....BP’s cutbacks form part of a major reduction in the energy giant’s global “upstream” workforce – those who work in oil exploration and production – from 24,000 to less than 20,000 by December 2017. Its job reductions came a day after oil and gas services firm Petrofac warnedit would cut up to 160 jobs in the UK as part of business restructuring. ...
Amec Foster drops by a fifth after slashing dividend amid tough markets image
Source : Guardian [Read Article] Thursday 5th of November 2015 10:13:44 AM
....8p as it too reported difficult trading conditions, saying profit from continuing operations could fall by 90%. Petrofac has fallen 57p to 816. ...
Shares in Amec Foster Wheeler dive 25pc after it halves dividend image
Source : Telegraph [Read Article] Thursday 5th of November 2015 10:00:58 AM
.... . Amec Foster's trading update also hurt its peers with Petrofac falling 7. ...
Questor share tip: Avoid Oil services until prices fully recover image
Source : Telegraph [Read Article] Saturday 10th of October 2015 02:32:28 PM
.... . The smaller players Petrofac and Lamprell have both joined in the rally with their shares rising sharply. ...
Petrofac swings to half-year loss on Shetland Island costs image
Source : Telegraph [Read Article] Tuesday 25th of August 2015 07:32:52 AM
. Petrofac, the oilfield and gas services group, has swung to a net loss for the first half of the year as a result of its troublesome Laggan-Tormore gas project in the Shetland Islands. ...
The 10 things to watch in business on Tuesday August 25 image
Source : Independent [Read Article] Tuesday 25th of August 2015 07:30:02 AM
....6. The oil contractor Petrofact posted a net loss for the first half, hurt by a steep increase in costs at its Laggan-Tormore project in the Shetland Islands. ...
Markets live: FTSE bounces back as China injects fresh stimulus after stocks crash in country's 'Black Tuesday' image
....5%, Antofagasta +2. 3%, Petrofac +1. ...
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The Week Ahead: Bwin.Party and suitor 888 Holdings to unveil half-year results image
....Beleaguered energy services firms are also due to report results. Half-year results are out tomorrow from Petrofac, Wednesday from Cape, and Thursday from Amec Foster Wheeler and Lamprell. ...
Petrofac shares surge despite North Sea project cost blowout image
Source : Telegraph [Read Article] Tuesday 23rd of June 2015 08:59:06 AM
. UK oil and gas engineering group Petrofac has warned investors it faces £30m of extra costs on one of its major projects in the North Sea. ...
Source : Independent [Read Article] Monday 22nd of June 2015 05:15:00 AM
....Elsewhere, Debenhams’ third-quarter trading update on Thursday will show whether the department store group can keep up the good form after its half-year results impressed. Bus-to-trains group Stagecoach is set to reveal its annual results on Wednesday, while there is a first-quarter trading update out tomorrow from embattled oil services group Petrofac. ...
FTSE 100 boardroom diversity set to decline as non-white talent pool shrinks image
.... Its chairman, Said Darwazah, joins Jac Nasser of mining company BHP Billiton and Fred Phaswana of paper and packaging group Mondi in the league table. The departure of Tidjane Thiam as chief executive of Prudential – he quit to run Credit Suisse – helped reduce the number of non-white FTSE 100 bosses from six, along with the ejection of oil services firms Petrofac and Amec from the index. ...
Mistaken bid hopes lift IMI image
Source : Telegraph [Read Article] Tuesday 21st of April 2015 06:17:35 PM
Arm and Sky boost FTSE 100 but miners prove a drag image
Source : Guardian [Read Article] Tuesday 21st of April 2015 04:31:29 PM
....Associated British Foods fell 151p to £27. 12 after disappointing results, while among the mid-caps Petrofac fell 38p to 874. ...
Petrofac profit warning on more North Sea pain image
Source : Independent [Read Article] Tuesday 21st of April 2015 12:26:57 AM
. The financial hazards of working in the North Sea were underlined yesterday as the oil and gas services company Petrofac issued its third profit warning in a year, and said the group faced unprecedented challenges. ...
Oil firm Petrofac records losses of £130million image
Source : Daily Express [Read Article] Tuesday 21st of April 2015 12:01:00 AM
...
Tullow under pressure amid fading bid hopes image
Source : Telegraph [Read Article] Monday 20th of April 2015 04:46:02 PM
.... . Oilfield services group Petrofac lost 101½p, or 10pc, to 912½p after warning that it would book an extra £130m of losses on the Laggan-Tormore gas plant project on Shetland, after the initiative was delayed by a month because of harsh weather and industrial action. ...
London shares hold on above 7,000 image
Source : BBC [Read Article] Monday 20th of April 2015 07:28:04 AM
....35% higher on speculative chatter about a merger deal. Outside the 100 top companies, oilfield services provider Petrofac extended recent losses to finish down 10%. ...
Shell takeover of BG: what the analysts say image
Source : Guardian [Read Article] Wednesday 8th of April 2015 10:05:31 AM
.... The decline in oil price over the past year has battered some stocks, which are clearly now looking attractive. In the last year BG shares fell 30%, shares in Tullow Oil have fallen 65%, Premier Oil down 55%, and Petrofac down 20%. ...
Shell agrees to buy rival BG Group - live reaction  image
Source : Telegraph [Read Article] Wednesday 8th of April 2015 07:20:07 AM
.... The decline in oil price over the past year has battered some stocks which are clearly now looking attractive. In the last year BG shares fell 30pc, shares in Tullow Oil have fallen 65pc, Premier Oil down 55%, and Petrofac down 20%. ...
Short-sellers target Petrofac with £389m bet on shares image
Source : Independent [Read Article] Friday 3rd of April 2015 11:48:55 PM
....City investors are making a £700m-plus bet against the shares of listed firms exposed to weak oil prices, according to figures compiled for The Independent. Short-sellers – who borrow shares to sell in the market in the hope of profiting by buying them back more cheaply when the price falls – have racked up bets against FTSE 100 oil and gas focused engineering firms Petrofac and Weir Group as well as explorer Tullow Oil, according to financial data provider Markit. ...
No respite for beleaguered AO image
Source : Telegraph [Read Article] Thursday 26th of February 2015 07:15:15 PM
.... . Similarly, oilfield services group Petrofac, 10½p cheaper at 875½p , was in focus following an announcement that the head of its engineering, construction, operations and maintenance division spent £1. ...
Coms hit by boardroom turmoil image
Source : Telegraph [Read Article] Wednesday 25th of February 2015 07:36:29 PM
.... St James’s Place pleased with a 50pc boost to its final dividend and climbed 38p to a record 930p. Oilfield services company Petrofac reported a 26pc rise in its order backlog last year to $18. ...
FTSE 100 falls back from record image
Source : BBC [Read Article] Wednesday 25th of February 2015 09:40:35 AM
....The company said the recent fall in oil prices would hit revenues in 2015. In the FTSE 250, shares in oilfield services firm Petrofac rose by almost 9%, as investors were seemingly reassured by chief executive Ayman Asfari's insistence that the firm could withstand the oil downturn - and by the fact that the firm's order backlog was up 26% at the end of 2014. ...
.... Half-year numbers are due from AnimalCare, Ashmore Group, BHP Billiton, Genus and Gulf Marine Services. The insurer Brit, which is about to be taken over, has finals on Wednesday, as do Henderson, International Personal Finance, Man Group, Petrofac, Plus500, SEGRO, St James’s Place, TSB Bank, Vitec and Weir. ...
Week ahead in business and economics: February 23 - 27 image
Source : Telegraph [Read Article] Sunday 22nd of February 2015 07:10:33 PM
.... Full-year results: GKN, Drax, Provident Financial, Persimmon, Aer Lingus, Mondi, Meggitt, Yorkshire Building Society Interim results: Ashmore, DotDigital, Just Retirement, BHP Billiton Trading update: None Economics: BCC trade confidence index, Oil & Gas UK annual activity survey, EU consumer price index, US consumer confidence Meetings: None . Full-year results: Petrofac, Man Group, Capital & Counties, International Personal Finance, Brit, Henderson, Telefonica, St James’s Place, Segro, TSB, Weir Interim results: Kier Group, Hays, Barratt Trading update: Safestore, Whitbread Economics: CML mortgage market data, BBA mortgage lending figures Meetings: None . ...
Aberdeen is paying the price for oil's decline image
Source : Telegraph [Read Article] Saturday 7th of February 2015 02:23:57 PM
.... Aberdeen is like no other place in Scotland. The prosperity that the oil industry brings to the city is evident from the moment you step off the plane at the airport, where luxurious Mercedes AMG taxis with plush leather seats queue to ferry the lines of oil workers, engineers and executives who fly in and out on a daily basis to the hundreds of offices and rigs belonging to Royal Dutch Shell, BP, Petrofac and others. ...
Source : Independent [Read Article] Wednesday 31st of December 2014 09:56:33 PM
....09. Oil-related companies made up many of the biggest fallers, with Tullow Oil down 52 per cent on the year, Petrofac down 41 per cent and BG down 33 per cent. ...
Avoid oil services as price plummets image
Source : Telegraph [Read Article] Tuesday 16th of December 2014 06:00:08 AM
.... . The damage was caused by a profit warning from Petrofac on November 24. ...
Source : Independent [Read Article] Tuesday 16th of December 2014 01:17:26 AM
FTSE 100 rallies as investors cheer oil rebound image
Source : Telegraph [Read Article] Monday 15th of December 2014 11:25:39 AM
.... Explorer Tullow Oil climbed 5. 1pc, making it the biggest riser in the FTSE 100, oilfield services group Petrofac gained 3pc and Royal Dutch Shell’s B shares advanced 2. ...
UK oil giants fight for control in a current of falling prices image
Source : Telegraph [Read Article] Saturday 13th of December 2014 05:15:00 PM
.... This cut in project spending by the oil majors has started to weigh heavily on Britain’s oil and gas engineering sector. Shares in companies such as Weir Group, Petrofac and Wood Group have all come under pressure since the current slide in oil prices started to take hold. ...
Source : Independent [Read Article] Saturday 13th of December 2014 12:20:56 AM
....”. The oil services company Petrofac led the blue-chip index lower, falling 46p to 678p as Deutsche Bank slashed its target price. ...
MARKET REPORT: Miners hit worse by FTSE crash image
Source : Daily Express [Read Article] Saturday 13th of December 2014 12:00:00 AM
....Oil-related stocks proved slippery as the price of US crude fell below $60 a barrel for the first time in five years, after the International Energy Agency cut its outlook for global oil demand. Oilfield service company Petrofac took the biggest hit and dropped 46p to 678p, with Royal Dutch Shell down 61p to 1984p, while Tullow slipped 5½p to 367¼p. ...
Airlines fall on airspace closure image
Source : Telegraph [Read Article] Friday 12th of December 2014 07:53:48 PM
.... Oil stocks, as has been the norm in recent months, were hit by crude’s weakness. Petrofac, the oilfield services company, lost 46p to 678p, BP was down 13. ...
FTSE down as energy shares fall image
Source : BBC [Read Article] Friday 12th of December 2014 09:33:47 AM
.... Oil-related stocks saw big falls after Brent dipped below $63 a barrel while the price of US crude remained below $60. Oilfield services firm Petrofac fell 6. ...
Mixed reception for Aim companies image
Source : Telegraph [Read Article] Thursday 11th of December 2014 07:26:28 PM
.... In London, oil stocks followed the price of Brent, which endured a volatile session. But with the commodity back above $64 a barrel by the end of the trading day Petrofac gained 7p to 724p. ...
BP and Petrofac recover after oil price steadies image
Source : Guardian [Read Article] Thursday 11th of December 2014 09:46:06 AM
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MARKET REPORT: Opec predicted crude oil demand falling to weakest level for 12 years image
Source : Daily Express [Read Article] Thursday 11th of December 2014 12:00:00 AM
....With Brent and US light crude falling by about 4 per cent to their lowest for five years, investors dumped black gold stocks. Petrofac, down 25p to 717p, topped the blue chip casualty list, while Tullow Oil and Royal Dutch Shell dropped 10¾p to 379½p and 56p to 2098½p. ...
Markets slide as rally fades image
Source : Telegraph [Read Article] Wednesday 10th of December 2014 07:33:24 PM
....34p to 37. 61p, and oilfield services companies Petrofac and Hunting declined 25p to 717p and 27½p to 510p respectively. ...
G4S shrugs off market turmoil image
Source : Telegraph [Read Article] Tuesday 9th of December 2014 07:47:30 PM
FTSE 100 shaken by Tesco, oil and Greece worries image
Source : Telegraph [Read Article] Tuesday 9th of December 2014 11:02:04 AM
.... Oil shares also came under pressure after Brent crude slumped to a fresh five year low, breaking below the $66 a barrel level earlier on Tuesday. Oilfield services group Petrofac lost 3. ...
Exclusive: UK firms vie for share of £170bn in Algeria deals image
Source : Independent [Read Article] Monday 8th of December 2014 12:09:35 AM
. Pharmaceutical giant AstraZeneca and oil services group Petrofac are among a raft of British companies poised to sign contracts worth up to £2bn with Algeria this week as the countries look to cement trade links and fight terrorism. ...
Mining stocks sag as FTSE rises image
Source : BBC [Read Article] Friday 5th of December 2014 08:35:25 AM
....84. During the day, oil firms Petrofac and Tullow Oil fell 1. ...
Source : Independent [Read Article] Wednesday 3rd of December 2014 11:53:30 PM
....2p at 132. 5p, are today set to join the top-flight index as part of the quarterly reshuffle, while IMI, off 8p at 1,156p, and Petrofac, down 6p at 806. ...
Jimmy Choo to enter FTSE 250 image
Source : Telegraph [Read Article] Wednesday 3rd of December 2014 08:50:04 PM
.... . Oilfield services group Petrofac, which has seen its shares hit by the plunge in the price of crude, and engineer IMI are being relegated from the FTSE 100 to the second-tier index. ...
Barratt Developments and Taylor Wimpey join FTSE 100 image
Source : BBC [Read Article] Wednesday 3rd of December 2014 07:07:37 PM
....The companies' shares have gained 30% and 20% respectively this year on the back of Britain's rising property market. The London Stock Exchange said Petrofac and IMI would join the FTSE 250. ...
BP and BG boosted by bid talk image
Source : Telegraph [Read Article] Tuesday 2nd of December 2014 07:09:20 PM
.... Tracker funds selling EnQuest on expectations the group will lose its place in the FTSE 250 in Wednesday’s index review also put pressure on the stock. Petrofac, up 4½p at 812½p, and IMI, which added 7p to £11. ...
MARKET REPORT: Voda gets the dial tone image
Source : Daily Express [Read Article] Tuesday 2nd of December 2014 01:50:00 PM
....37. Tullow Oil, off 25½p to 400½p, topped the blue chip casualty list, while oil services group Petrofac's chances of avoiding relegation from the top flight in this week's quarterly index reshuffle receded after it slipped 17p to 808p. ...
Petrofac set to drop out of FTSE 100 image
Source : Telegraph [Read Article] Saturday 29th of November 2014 07:37:29 PM
. Oilfield services group Petrofac is expected to be ejected from the FTSE 100 this week after the plunge in the price of crude helped to wipe £1. ...
MARKET REPORT: Insurance giant Prudential has it covered image
Source : Daily Express [Read Article] Friday 28th of November 2014 12:00:00 AM
....42 as it swam against the falling oil price tide, which wreaked havoc on shares prices across the heavyweight exploration and production industry. Tullow Oil, off 36p to 465p, topped the blue chip casualty list, while BG Group and Petrofac plunged 62¾p to 986¾p and 56p to 843½p. ...
Opec refuses to cut oil production, prices slump to five-year low image
Source : Telegraph [Read Article] Thursday 27th of November 2014 04:01:41 PM
.... Shares in oil companies were hit and dominated the fallers in the London market, with explorer Tullow Oil plunging 7. 2pc and oilfield services group Petrofac slumping 6. ...
 Sell Petrofac on profit warning image
Source : Telegraph [Read Article] Tuesday 25th of November 2014 06:00:01 AM
. Petrofac 877½p-315½p Questor says SELL . ...
LSE buoyed by cash return hopes image
Source : Telegraph [Read Article] Monday 24th of November 2014 07:07:45 PM
Source : Independent [Read Article] Monday 24th of November 2014 06:19:00 PM
. Shares in the FTSE 100 oil services group Petrofac crashed 26 per cent to a near-five-year low yesterday after it said it would lose money on a massive gas terminal it is building in Shetland. ...
Petrofac shares plunge 25pc after profit warning image
Source : Telegraph [Read Article] Monday 24th of November 2014 11:22:52 AM
. More than £1bn was wiped off the value of Petrofac on Monday morning after the oil and gas services company warned that profits would be more than a quarter lower than expected in 2015. ...
Petrofac shares sink on profit warning image
Source : BBC [Read Article] Monday 24th of November 2014 11:03:17 AM
. Shares in Petrofac have fallen by more than a quarter after the oil and gas services group warned that its profits are set to be lower than expected. ...
FTSE lower as Petrofac shares dive image
Source : BBC [Read Article] Monday 24th of November 2014 10:40:22 AM
. (Close): Shares in Petrofac fell by a quarter after the oil and gas services firm issued a profits warning, due to lower oil prices and problems with a project in the Shetland Islands. ...

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