On 3rd July PFC announced that it was trading well ahead of expectations. Not surprisingly, sp jumped but has now fallen back pretty much to the same level as before the announcement.

While perhaps not as exciting as finding the next Cairn, remember that in the goldrush days, it was rarely the prospectors who made the money, but rather the suppliers of the spades and tents and stuff - e.g. Levis if memory serves me aright.

I said..

I see Maroun A Semaan and Family have taken some profit (I hope) with PFC http://www.moneyam.com/InvestorsRoom/posts.php?tid=10264#lastread

Some of the UK's biggest companies, including Rolls-Royce and Petrofac, have been drawn into a scandal over alleged bribery and corruption in the international oil industry. The Serious Fraud Office is understood to have teamed up with the FBI and the US Department of Justice to investigate claims that a Monaco-based lobbying firm, Unaoil, was involved in the payment of bribes to officials in Iraq, Syria, Kazakhstan, Kuwait and other oil-producing nations.

bribes, what bribes?
secondary commission only to ensure that the wheels stay oiled and business can be done ........ ask the chinese and others how important this is

Can you be more specific?

you raised the subject not me, and i have answered pretty clearly

I disagree, on my return I expect an adequate reply from you.

oh do shut up you silly tart :-)

Stan

The C#nt knows a lot about "tart" he is wearing the apron all the time to make them. the same family backgroun as the Cameron's and Osborne's, crooks of 1st class, pinch from the poor and needed to give it to the over rich, or take it from the Wells and give it to the Chinese on the steel business, it seems a disaster to stay in Europe. So get Boris for the TOP job, those two are burn like it was Mrs Thatcher at the end.

Anyway you were right about the - Unaoil - ( Iranian family farther and two sons ), I had them on the black list since last week, and Petrofac is on the BLACK list of companies.

THE COMPANY THAT BRIBED THE WORLD

WORLD’S BIGGEST BRIBE SCANDAL

In 2008 and 2009, Unaoil promised the man 2.75 million euros who helped its British client Petrofac win contracts from Assad regime petroleum companies. “Strictly confidential” emails from 2008 show this middleman promised to pay others to win these contracts.

But when he was not paid on time, he complained the delays were causing problems with “friends” in Syria.

“It is becoming very unpleasant [sic] for me not delivering as expected,” he wrote to Unaoil in December 2009.

Petrofac is understood to be unaware of Unaoil’s involvement in its Syrian dealings and in response to questions said it “aspires to the highest standards of ethical behaviour”.

Oh really.. how disrespectful of you Alf -):

Maroun A Semaan goes below 6% http://www.moneyam.com/action/news/showArticle?id=5310563

Also:

Broker Forecast - Jefferies International issues a broker note on Petrofac Ltd

Jefferies International today downgrades its investment rating on Petrofac Ltd (LON:PFC) to hold (from buy) and left its price target at 855p.

Story provided by StockMarketWire.com

Petrofac to take hit after Laggan-Tormore deal

Petrofac has reached final commercial settlement with its client in respect of the Laggan-Tormore gas plant in the Shetland Isles.

Petrofac says that as part of the agreement, its client has informed the company that there will be a partial application of liquidated damages. In bringing the project to a conclusion, Petrofac now expects to recognise a final charge in the first half of the year of GBP70 million, principally made up of liquidated damages. Petrofac says: "Whilst it is clearly disappointing that a portion of liquidated damages has been applied, Petrofac is nevertheless satisfied that this brings to an end the project, which has been operating successfully and exporting gas since February this year."

At 3:41pm: (LON:PFC) Petrofac Ltd share price was -5.5p at 819p

that chart is looking very ugly ...... not one to risk long i fear

By Motley Fool | Mon, 9th May 2016 - 10:20

Bright future

Trading at under 10 times forward earnings with a 5.5% dividend, oil services provider Petrofac (LSE:PFC) is another great company trading at depressed prices. Shares have slumped alongside the industry as a whole, even though Petrofac's underlying business continues to perform soundly. Revenue for 2015 rose 10% year-on-year, although profits tumbled to $9m after a disastrously expensive Laggan-Tormore project in the North Sea.

While net debt of $686m is a worry, this shouldn't be too much of a problem with strong operating cash generation, which hit $827m in 2015. The company's order backlog stands at a record $20.7bn as its main customers, Middle Eastern national oil companies, race to keep their ageing wells pumping at full volume. With final writedowns related to the Laggan-Tormore projected to be booked in the first half of this year, the future for Petrofac looks quite bright to me as profits bounce back to once again cover solid dividend payouts.

chart looking quite interesting with sp just teasing above 200 dma
however, be aware that this one can be pretty volatile

Yes both ways.

strange indeed ...... the chart below is at considerable variance with the one above!!

StockMarketWire.com
Petrofac (PFC) said it expects to deliver net profit in 2016 in line with previous guidance and that it is expected to be broadly evenly split between the first and second half of the year.

The group backlog stood at $18.9 billion at 31 May 2016 (31 December 2015: $20.7 billion), giving excellent revenue visibility.

Petrofac achieved an order intake of approximately $0.8 billion in the year to date, mainly in engineering and production services and strong bidding pipeline for 2017.

Net debt is expected to increase to around $1.1 billion at 30 June 2016 (31 December 2015: $0.7 billion), reflecting payment of the 2015 final dividend and capital expenditure on owner furnished equipment for the JSD6000 and on the Greater Stella Area development.

Petrofac chief executive Ayman Asfari said: "We are well-positioned in what is a challenging environment for the industry and we remain focused on our core proposition: strong project execution, a clear geographic focus, a disciplined approach to bidding and continued emphasis on cost management to maintain a sustainable, cost-effective structure.

"Our backlog gives us excellent revenue visibility for this year and beyond, and we are very active bidding on a strong pipeline of new opportunities as our clients continue to invest in our core markets.

"In IES, we remain committed to reducing the capital intensity of the portfolio and we expect to demonstrate significant progress over the remainder of the year."

April announcement:
"Petrofac has won a contract to operate a cluster of North Sea oil and gas fields for a new Malaysian investor.
The five-year deal, worth $250m (£174m), is for the Anasuria cluster, including the Teal and Guillemot fields.
The assets were bought from Shell and Esso last year by two companies based in Malaysia - Hibiscus Petroleum and Ping Petroleum.
They paid $105m (£73m) and have 50% each.
They have formed a joint venture known as Anasuria Operating Company (AOC).
Petrofac, a specialist oilfield services company, has won the contract to run the full range of operations in the cluster of fields, also including a 39% stake in the Cook field. They lie about 175km (109 miles) east of Aberdeen.
That is expected to secure 65 jobs, as workers are transferred across to Petrofac.
'Positive development'
Walter Thain, of Petrofac, said: "AOC's acquisition of the Anasuria cluster is really an investment in the future of the North Sea, and it is a positive development for our industry during these challenging times.
"We aim to support AOC as they work to realise their vision for Anasuria to increase production and extend the life of field."

Societe Generale today reaffirms its buy investment rating on Petrofac Ltd (LON:PFC) and cut its price target to 921p (from 1036p).

Barclays Capital today reaffirms its overweight investment rating on Petrofac Ltd (LON:PFC) and cut its price target to 1165p (from 1250p).

Jefferies International today upgrades its investment rating on Petrofac Ltd (LON:PFC) to buy (from hold) and cut its price target to 835p (from 855p).

Deutsche Bank today initiates coverage of Petrofac Ltd (LON:PFC) with a hold investment rating and price target of 770p.