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PFC.L
-2.10%
Elliot Gulliver-Needham
Mon, 12 February 2024 at 2:40 pm GMT
In this article:
PFC.L
-2.10%
Oil and gas compnay Petrofac won out as the most shorted stock.
Oil and gas compnay Petrofac won out as the most shorted stock.
Petrofac, the oil and gas exploration firm was the most shorted stock in the UK as of 5th February according to new data.
The firm’s stock price has slumped 64.8 per cent over the last year, but 11.5 per cent of its stock was still held short as of last week, according to data from GraniteShares.
Unknown* 25.32 25.78 133.96 O
16-Jan-24 09:55:35 25.7064 50,000 Buy* 25.32 25.78 12.85k O
16-Jan-24 09:55:29 25.77 252,190 Buy* 25.32 25.78 64.99k O
16-Jan-24 09:54:35 25.6562 36,000 Buy* 25.30 25.70 9,236 O
16-Jan-24 09:53:38 25.54 42
Oilfield services company Petrofac has secured a four-year operations services contract from BP for its Greater Tortue Ahmeyim (GTA) natural gas project in Mauritania and Senegal.
The multi-million-dollar Master Services Agreement covers a wide scope of services. These include, but are not limited to, onshore and offshore management and supervision, provision of personnel, and equipment maintenance.
“Having supplied operation services for the floating production storage and offloading vessel and liquefied natural gas hub since 2022, and developed operational procedures in 2021, this additional scope demonstrates bp’s confidence in Petrofac and supports our selective geographic expansion strategy,” said Nick Shorten, Chief Operating Officer for Petrofac’s Asset Solutions Business.
Jonathan Leake
Mon, 8 January 2024 at 6:00 am GMT
North Sea, Irish Sea and Atlantic water operators have produced 47 billion barrels
North Sea, Irish Sea and Atlantic water operators have produced 47 billion barrels over 50 years - Martin Langer / Alamy Stock Photo
Britain must kickstart a drilling race to extract the billions of barrels of oil and gas that remain offshore, says the chief executive of the North Sea Transition Authority (NSTA).
Stuart Payne is clearing the way for producers to exploit the oil and gas that still lie under the UK’s continental shelf, which he says will help maintain the country’s energy security for decades to come.
Within the next few weeks, his organisation is expected to issue up to 88 new oil and gas licences – which will mark a jump on the 27 issued in October.
The move is likely to infuriate environmentalists fighting to end new drilling but will delight many in the energy industry.