RE: No reason for drop2 Jan 2024 10:12
Petrofac Ltd, down 7.5% at 34.60p, 12-month range 14.58p-91.00p. The energy infrastructure firm continues to lose ground on recent gains, but remains up 68% over the last month. In mid-December, it had announced announced the second contract award under the six-project USD14 billion framework agreement with TenneT, working alongside Hitachi Energy, with Petrofac's portion of the contract worth around USD1.4 billion. Over the last 12 months, it is down 51%.