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."
Safety regulators have put Petrofac on notice after it found poor assessments left offshore workers on the Kittiwake platform at risk of exposure to hazardous fumes.
Credit ratings agency Fitch has downgraded its assessment of North Sea operator Petrofac (LON: PFC) to a 'B-' in the latest sign of financial trouble at the firm.
Italian oilfield services firm Saipem (BIT: SPM) has awarded Petrofac a new multi-million-pound deal to support the decommissioning of a platform in the UK sector of the North Sea.
The union representing around 85 offshore workers employed by Petrofac (LON: PFC) has announced an end to a pay dispute centred on 'clawback' entitlements.
ADNOC Gas has awarded Petrofac a contract for engineering and construction of one of the region’s largest carbon capture, utilisation and storage (CCUS) schemes.
Petrofac workers stationed on the EnQuest-operated Kittiwake platform are to be balloted for strike action in a dispute over pay and so-called ‘clawback’ policies.