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Retail Petrofac May 2022 Tory donor Ayman Asfari to leave bribery scandal-hit Petrofac Syrian-born businessman who built London-listed oil company was investigated by Serious Fraud Office 8 May. Petrofac's shares have shed 85 per cent of their value since the investigation was launched, as it affected its ability to win work in key geographies such as Saudi Arabia. He flagged a $200mn contract in Algeria as progress on this front. Browse and download our annual reports, brochures, and policies in one place. It reported. Petrofac up on Schlumberger takeover speculation, Auditor confirms Turkmen gas field worlds no 2. 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More about our structure and how we are set up to deliver for our clients. Petrofac Full Year 2022 results date Read Story News 07 Feb 2023 Achieving the Gold standard at OEUK's Supply Chain Principles Awards 2023 News 13 Jan 2023 TenneT, Hitachi Energy and Petrofac announce early works agreement for 2GW projects News 12 Jan 2023 Sameh Serour joins Petrofac as Country Manager - Qatar All news Careers Our Standards: The Thomson Reuters Trust Principles. Petrofac will also continue to perform engineering design &construction services for these facilities under a prior arrangement with Lundin Britain. Find a contact across our departments and get in touch with the right people at Petrofac. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. Check if your Find all the documents related to our refinancing on our dedicated page. This article does not constitute investment advice. personalising content and ads, providing social media features and to Find contacts for Investor Relations at Petrofac. On completion of a transition process, Petrofac will be responsible, as Facilities Managerand Safety Case Holder, for the fields production and maintenance operations. Ayman Asfari, CEO of Petrofac Limited, said: "This is an important step for Petrofac. Romania's anti-trust body said on Wednesday that it has approved the takeover of UK-based energy services group Petrofac Romania by Romanian oil fields. Here you can find the latest regulatory news we are required to announce to the market and subscribe to our alert service. With greater access to the financial markets than ever before, we'd like to see everyone use the markets to grow their wealth and gain long term financial independence. 16.00M. -1.75p With the "unanimous support" of its lenders, Petrofac has secured a $610m extension of its existing revolving credit facility to 2 June 2022, with an option to extend for a further six. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. -83.42%. Find the latest news, magazine articles, stories and opinion pieces, background information, and images for download in our media centre. analyse how our Sites are used. This has improved liquidity with a . Click to get a sign-in link sent to your email. Were a leading energy services company that helps our clients meet the worlds evolving energy needs. The penalty includes a $64 million fine and a $31 . The new strategy aims to win more business in the Middle East and North Africa, where prospects are better for lower-cost oil and gas production. Petrofac was in demand as a fourth consecutive gain gave the FTSE 100 its sharpest rebound in nearly three years. Search and apply to our latest roles and find out how we support our people to thrive in a delivery-focused culture. Read about our approach to external linking. News; PFC Share Chat; PFC Share Trades 434; PFC Live RNS; PFC Share Charts; PFC Level 2 . We have solid experience and a proven operational delivery, along with a strong safety record in delivering projects in refining and petrochemicals. Barclays cut it to equal weight from overweight in December because of a weaker-than-expected 2021 outlook and gave a target price of 230. The agency examined alleged payments made by Petrofac since the early 2000s to land contracts in the Middle East, Africa and Asia, including Kuwait and Algeria. Iskander took the helm in 2020 and steered Petrofac through an investigation by Britain's fraud office into the company's dealings in the Middle East, as well as the market volatility of the COVID pandemic and more recently the Russia-Ukraine war. It is the premier source of information for industry leaders and professionals. All rights reserved. Keep your powder dry as RNS on the way soon" The RNS that you're waiting for is some sort of resolution on the banking issue. Petrofac plead guilty to seven separate charges of failing to prevent bribery in the Middle East, the SFO said in a statement. Find here important dates in our investor and financial calendar. Great opportunity with strong move upwards as market realises time to get in so dont miss out. Find a list of analysts covering Petrofac, as well as consensus data compiled and updated by Petrofac. They must have done their due diligence to up holding by 5% It has postponed its results announcement to April from February because of auditing complications as a result of the pandemic. Aug 17, 2016 15:47 EEST . Here you can find the latest regulatory news we are required to announce to the market and subscribe to our alert service. The payments happened between 2011 and 2017, and since then all the employees have left, Petrofac said. SAIPEM SpA - Registered office: Via Luigi Russolo, 5, 20138, Milano - Italy Corporate capital: 501.669.790,83 fully paid-up - Taxpayer's code and VAT number: 00825790157 - Economic and Administrative Business - Register Milan no. The Thistle and Heather platforms will become another part of Petrofacs established portfolio of managed facilities in the UK sector of the North Sea. Speculation that integrated energy services provider Petrofac is the target of a Schlumberger takeover has driven its share price up 4.4% in a days trading in London. All Rights Reserved. In 2019, Mr Lufkin pleaded guilty to 11 counts of bribery related to contracts worth $3.5bn in Saudi Arabia and $730m in Iraq. It has postponed its results announcement to April from February because of auditing complications as a result of the pandemic. Petrofac has been living under the shadow of the past, but today it is a profoundly different business, in which stakeholders can be assured of our commitment to the highest standards of business ethics, wherever we operate.. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Our Group Executive Committee is responsible for day-to-day operational management, communication and implementation of strategic decisions, and other administrative matters. Chat About PFC Shares - Stock Quote, Charts, Trade History, Share Chat, Financial Terms Glossary. On 1 October 2021, Petrofac Limited pleaded guilty to 7 offences of failing to prevent bribes of $44 million to secure contracts worth $3.67 billion between 2011 and 2017. It reported a pre-tax loss of $180m during 2020, as revenue dropped from $5.5bn to $4.1bn and contracts shrunk. Nov 22 (Reuters) - Oilfield services provider Petrofac Ltd (PFC.L) said on Tuesday that Sami Iskander would step down as chief executive officer at the end of March 2023 and be replaced by Tareq Kawash, a senior executive at energy firm McDermott. Explore individual locations to get a better understanding of what we offer and find out how to apply. By ITP Tue 16 Mar 2021. David Lufkin, former Head of Sales at Petrofac pleaded guilty to 11 counts of bribery in 2019 and 3 counts of bribery in 2021. Find all the documents related to our refinancing on our dedicated page. Find here important dates in our investor and financial calendar. A multinational firm that was headed by a Tory party donor has been fined 70m after admitting it used "systemic" bribery to secure large contracts . Because they are helping for, Wig.. i agree and as I have said PFC is ripe for a, Jak.. you have answered the question for a much likely, Jaknife - October 2023 is a long way off. A fourth consecutive gain gave the FTSE 100 its sharpest rebound in nearly three years with a strong safety in... 5.5Bn to $ 4.1bn and contracts shrunk because of a weaker-than-expected 2021 outlook gave... Worlds no 2 up on Schlumberger takeover speculation, Auditor confirms Turkmen gas field worlds 2... History, Share Chat, financial Terms Glossary leading energy services company that our... Get a sign-in link sent to your email on Schlumberger takeover speculation, Auditor confirms Turkmen gas field worlds 2... Charts ; PFC Share Chat, financial Terms Glossary can find the latest regulatory news we are required to to... 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