Skip to content
CityAM
Main navigation
Download free app
  • Business
    • Latest Business News
      • Business
      • Property
      • Retail and leisure
      • Banking
      • Media
      • Technology
      • Transport and infrastructure
      • Politics
    • From our partners
      • CFA Institute Talk
      • M&A Talk
    • Featured

      Starmer hails ‘seismic’ Scotland by-election win as pressure mounts on SNP

      Submit a story

      Tell us your story.

      Submit
  • Markets & Economics
    • markets and economics news
      • Economics
      • Markets
      • Market Data
    • Digital Assets
      • News
      • Columnists
      • Voices
      • Market View
    • from our partners
      • Talk Crypto
      • The Trend Micro Cybersecurity Knowledge Hub
    • Featured

      FTSE 100 live: London pares gains from fresh high last week while gold and Bitcoin surge

      Submit a story

      Tell us your story.

      Submit
  • Opinion
    • Opinion
      • Opinion
      • Letters
    • more from city A.m.
      • Jobs
      • Advertising
    • Featured

      Make no mistake, the government’s new migration rules will worsen skills shortages

      Submit a story

      Tell us your story.

      Submit
  • Sport
    • Latest Sports news
      • Sport
      • The Punter
      • The Punter Podcast
      • Sport Business
      • Six Nations 2023
    • More from city a.m.
      • About us
      • Jobs
    • Featured

      Tory mayor hopeful Susan Hall backs London to host Commonwealth Games

      Submit a story

      Tell us your story.

      Submit
  • Life & Style
    • Life & Style
      • Life & Style
      • The Magazine
      • Travel
      • Culture
    • from our partners
      • LIV Golf
      • Rugby World Cup hub sponsored by City Index
      • Aramco Team Series
    • Featured

      A round-up of City A.M.’s Black Friday deals across beauty, fashion and nutrition

      Submit a story

      Tell us your story.

      Submit
  • Impact A.M.
    • Impact A.M.
      • Cop 28
      • Impact A.M. Awards
      • Impact A.M.
      • DiverCity Podcast
    • from our partners
      • Partner Hubs
    • Featured

      Today at COP28: President hits back on big bank day

      Submit a story

      Tell us your story.

      Submit
  • Latest Paper
  • Jobs
  • Market Data
Track all markets on TradingView

Petrofac

  • Petrofac continue expansion with $120m contract wins

    November 20, 2019

    Petrofac, a leading provider of oilfield services, today announced that it had won $120m (£92.9m) in new contracts as it continues its expansion into new geographies. The FTSE 250 company said that it had agreed to purchase US firm W&W Energy Services, a provider of production and infrastructures services to producers in Texas’ Permian basin. [...]

  • Petrofac warns revenues will shrink after SFO probe hinders new work

    August 28, 2019

    Oilfield services giant Petrofac shares fell 1.97 per cent this morning as it warned revenues would dry up next year after an investigation by the Serious Fraud Office caused it to lose out on contracts. In a glum first half financial report, the FTSE 250 company said the decline reflects a “low order intake in [...]

  • North Sea explorers get boost as US clamps down on Iran oil exports

    April 23, 2019

    Toughened sanctions against Iran helped push up oil prices over the weekend, lighting a fire under London-listed exploration companies today. The cost of international standard Brent crude has risen 2.9 per cent over since Friday, hitting $74.68 per barrel – its highest point since October. Read more: FTSE 100 climbs to fresh six-month high as [...]

  • Stocks for a durable ISA portfolio in the Brexit years

    March 24, 2019  |  City Talk

    By Edmond Jackson from interactive investor. With the Brexit outcome still uncertain, companies analyst Edmond Jackson picks five larger cap stocks and three AIM shares for a resilient ISA. Be aware how sentiment towards equities hinges currently on whether Brexit is "resolved" by way of "Soft" business-friendly outcome, or the UK leaves the EU without [...]

  • Petrofac workers to strike at BP oil rigs after disagreement over paid leave

    March 20, 2019

    Union bosses have said Petrofac workers plan to walk out of all BP’s North Sea oil rigs amid a dispute over leave. Unite members had demanded three weeks paid leave, but today voted for industrial action at the platforms after only being offered two. Read more: Petrofac faces potential £400m lawsuit following bribery revelations Alternatively [...]

  • Petrofac faces potential £400m lawsuit following ex-employee’s bribery conviction

    February 11, 2019

    Oil field services company Petrofac is facing a potential £400m lawsuit from angry investors after its shares crashed when one of its former executives pleaded guilty to bribery and corruption charges. The former global head of sales at Petrofac, David Lufkin, pleaded guilty last Thursday to offering corrupt payments in an attempt to secure contracts [...]

  • Former Petrofac sales executive pleads guilty to bribery over oil contracts

    February 7, 2019

    A former Petrofac executive charged with using illicit payments to secure oil contracts in the Middle East has pleaded guilty to 11 charges of bribery, the Serious Fraud Office (SFO) said this morning. David Lufkin, 51, formerly the UK-headquartered oil and gas firm’s global head of sales, made the plea at Westminster Magistrates’ Court as [...]

  • Petrofac share price rises despite first half loss as Shetland Islands rack up

    August 25, 2015

    Petrofac shares were up 2.3 per cent up in early morning trading, despite having posted a loss for the first half of 2015 thanks costs at its Laggan-Tormore project. The figures Having issued a profit warning last November, Petrofac reported revenues of $3.2bn (£2.1bn) for the six months to the end of June, 25 per [...]

  • Petrofac share price soars despite £30m costs on North Sea project

    June 23, 2015

    Petrofac's share price is up 9.37 per cent at £9.51 this morning, despite the news that it's about to book another £30m of costs from one of its major gas developments in the North Sea. The figures The company's Laggan-Tormore project, off the Shetland Islands, continues to cause problems. The company said tough operating conditions [...]

  • Petrofac share price falls 13 per cent amid costs hike

    April 20, 2015

    Shares in Petrofac dived today, after the oilfield services provider announced an additional £130m pre-tax loss for its Shetland gas project in the North Sea. Shares in Petrofac fell as much as 13 per cent to 875.28p in mid-morning trade on the London Stock Exchange. The firm said the final stages of the project had [...]

Posts navigation

  • Previous
  • Page 1
  • Page 2
  • Page 3
  • Page 4
  • Next

Trending Articles

  • Just 100,000 Brits pay a quarter of all income and capital gains tax

  • One of the UK’s fastest growing fintechs says it will outpace Starling soon

  • The Divine Madman of Bhutan and his legacy of many penises

  • Meet the young professionals abandoning London - and the rental crisis

Subscribe

Subscribe to the City A.M. newsletter to have our top stories delivered directly to your inbox.

Subscribe
  • About us
  • Advertising
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • News
  • Markets & Economics
  • Opinion
  • Jobs and Money
  • Life & Style
  • Digital Assets
  • The Punter
  • COP 26
  • Awards 2023

Follow us for breaking news and latest updates

  • Newsletters
  • Latest paper
  • Advertising
  • CryptoAM.io
  • Awards
  • About
  • Tickets
Copyright 2023 City A.M. Limited

Your news your way

Subscribe to get the essential daily news updates from City A.M's top stories to your inbox.

By signing up to our newsletters you agree to the Terms and Conditions and Privacy Policy.