Trading in the Petrofac’s shares will be temporarily suspended from 1 May 2025 after the company decided to defer publishing its audited annual results for 2024 as it pushes on with a planned restructuring.
Global services firms have been caught in a storm. Engineering, procurement and construction (EPC) focused companies have been squeezed by tough contract terms, battered by inflation and haunted by legacy commitments.
Petrofac (LON: PFC) has unveiled plans to raise $355 million (£280m) in funding as part of a rescue deal that will further reduce shareholder allocation.
North Sea energy services firm Petrofac has entered into a binding agreement with key financial creditors on the terms of a comprehensive financial restructuring plan.
Petrofac (LON:PFC) has confirmed that 27 workers onboard the Irish Sea Pioneer in Liverpool Bay were evacuated over the weekend ahead of Storm Darragh.
Beleaguered oil field services group Petrofac (LON:PFC) has struck a deal to delay payment to lenders another month as the debt-burdened firm continues its restructuring plan.
The Health and Safety Executive (HSE) has served its first immediate prohibition notice against an offshore wind farm, Seagreen.
Petrofac (LON:PFC) has once again extended its existing forbearance agreement on a missed interest payment with a group of lenders.
In “another challenging period for Petrofac” the firm has reported a net loss of $162 million in the first half of 2024.
North Sea oil pollution has been "grossly underestimated" due to an opaque and misleading reporting system and ineffective regulations, a report has found.
Petrofac (LON: PFC) has extended its existing forbearance agreement on a missed interest payment with a group of lenders from 20 September to 18 October 2024.
Petrofac (LON: PFC) has extended its existing forbearance agreement on a missed interest payment with a group of lenders from 23 August to 20 September 2024.
At last, a pipelay/construction ship ordered a decade ago by Petrofac – the JSD6000 – has been completed in China for Shanghai Zhenhua Heavy Industry shipyard (ZPMC).
Ratings agency Fitch has downgraded oilfield services giant Petrofac (LON: PFC) after it defaulted on an interest payment.
Shares in debt-laden oil and gas services company Petrofac (LON: PFC) have fallen to new lows since they resumed trading after a month-long suspension.
Debt-laden Petrofac (LON: PFC) has reported a $505 million net loss in its delayed full-year financial results for 2023, with the company looking to sell some of its non-core assets to provide fresh capital.
Analysts have warned that debt-laden Petrofac (LON: PFC) could sell off non-core assets as the company looks for fresh capital to service its debts.
Shares in Petrofac (LON: PFC) have declined by more than 30% since markets opened today as the company struggles with its debt load.
Oil and gas service provider Petrofac (LON:PFC) has secured a $350 million contract with the national oil company of Equatorial Guinea.
Oil and gas service provider Petrofac's (LON:PFC) efforts to restructure its debt could lead to a significant dilution for shareholders, according to an analyst.
BP (LON: BP) has awarded a contract extension to global energy industry services provider Petrofac (LON: PFC) to continue supporting its North Sea portfolio.
Share prices have taken a nose dive as Petrofac has shared an update on how it aims to shift its debt as stakeholders are sent "running for the hills."
Energy services giant Petrofac (LON:PFC) has secured a contract extension in the Southern North Sea with ONEgas West.
"The paucity of actual detail will frustrate investors at the lack of concrete progress," said one analyst.
Chedid and Salibi are due to appear in Westminster Magistrates’ Court on February 19, 2024 to hear the charges.