As an investment alternative Petrofac is fit for purpose, if you're a gambler of course. Yes, there is the decline in the oil price to contend with, but the root of the problem lies in its energy services division, which was supposed to be the engine for growth. An integral part of its business model was premised on taking positions in large oil contracts and locking in some of the eventual production from the same. One warning sign that may have been missed is when earlier t [Tue 07:12]
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