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So true there should be more audits on companies and CFOs held more accountable!!

USD 900m write off in US projects is the reason for the SP drop not sure how they will recover from this

Some more positive news from Petrofac!!! Glad to see this moving forward and to all those that were thinking they are going under!!!!

https://www.reuters.com/business/energy/petrofac-secures-over-70-creditor-support-restructuring-plans-2025-01-23/

Totally agree too many scaremongering on this chat. Why would a international company like ADNOC award 3 projects over the last 12 months valued over 1.0Bn if they thought Petrofac may go bankkrupt!

The next few months we will see the SP stay around 7-8p then after the meetings in Feb and new contract awards (watch out for the sonatrach award) the SP will rise.

They will go up later in the year after everything is settled and they are awarded further new contracts. I would be happy at 50p.

Very positive news when an international company like ADNOC who would have had many EPCs bidding for this scope of work and they choose Petrofac just shopws you they have trust in them and theywill turn this around. It wont be overnight but im in for the long haul with my shares.

Give it time :-)

New Contrat awarded to Petrofac from ADNOC as i said just before christmas!!!

https://www.petrofac.com/media/news/petrofac-selected-by-adnoc-gas-for-us-330-million-habshan-project/

I think it was more than that, a lot of middle east international companies were investigated on these multi billion dollar contracts like RR, Wood, Unaoil etc.

It was one idiot in a high power position that exploited his position which has cost all Share holders millions and he was found guilty by SFO.

As an ex Petrofac employee I have shares and staying in for the long run as these will come back.

Hope so then 100% gain for my last purchase Happy Christmas Santa has come early !!!

Yep as I said they wouldn’t fold and this is just the new beginning of Petrofac, I fully believe this is the turning point and we will see a positive outcome in 2025 with the share price up to 30p by Q3

So Petrofac have released the full version just now. Wow it’s long and very complicated could anyone explain this in layman’s terms for us all please.

When a national oil company (ADNOC) awards two contracts to Petrofac in the last year do you think they would do that to a company that will fold, just think????

Yes i have lost alot down £35k on mine so just waiting for the good news to be released.

Maybe you are a shorter so i think everyone should watch your comments!! There is a positive outcome coming from Petrofac so you make the choice you want but when you have the data i hgave you make intelligent decisions.

Hey its Friday 13th it has to be good news. New ADNOC contract - Watch this space.

Yes its coming some good news on more ADNOC contracts not sure if iy will be Friday or afte rthe new year.

I have just purchased another 100k shares

New project with SOCAR maybe the reason for the rise!!

I was an employee for 8 years nothing wrong with their share scheme at all.

Just waiting for SP to hit 50p

Petrofac have a great stand and presence at one of the worlds largest oil and Gas shows in Abu Dhabi in UAE.

I think there will be some more positive news posted soon. There is no way they are going to fold plus the recent award from BAPCO in Bahrain.