Join our community of smart investors

Energy boom not yet arrived for Petrofac

Energy services company's past corruption hits orders while £77mn fine hits bottom line
Energy boom not yet arrived for Petrofac
  • Dividend remains suspended
  • Higher prices should drive higher industry spend this year, says CEO

There are two sides to Petrofac (PFC), the oilfield services company. The first is its work with companies like IOG (IOG), whose North Sea projects hit first gas this month, and on offshore wind farms to increase green energy capacity. The second after the company plead guilty to bribery offences last year. That was felt on the 2021 bottom line, thanks to a £77mn fine from the Serious Fraud Office. 

To continue reading...
Join our Community of Smart Investors
  • Independent full-length company analysis
  • Actionable investment ideas and recommendations
  • Expert investment tools and data
  • Stock screens from Algy Hall
Have an account? Sign in