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Prices & Quotes - UK Markets - Petrofac Ltd. (PFC)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 101.60p
Change Today:
-2.10p
Market Cap:
351.45m
Sector:
Oil Equipment, Services & Distribution

Petrofac suspended by ADNOC from competing for new awards, shares tank

By Michele Maatouk

Date: Monday 15 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Petrofac shares tanked on Monday after the oilfield services provider said it had been notified by the Abu Dhabi National Oil Company (ADNOC) that it has been suspended from competing for new awards until further notice.
The suspension follows an announcement by the Serious Fraud Office in January of additional pleases by a former Petrofac employee under the Bribery Act 2010 in relation to historic contract awards in the UAE in 2013 and 2014.

"Petrofac will continue to execute two EPC (engineering, procurement and construction) projects for ADNOC currently under construction," it said. "ADNOC has stated that it recognises the long-standing nature of its relationship with Petrofac and has confirmed that its decision will be reviewed on a periodic basis."

Petrofac said it's committed to operating at the "highest standards" of ethical business practice. It noted that no charges have been brought against any Petrofac Group company or any current officer or employee.

At 1555 GMT, the shares were down 17% at 111.50p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Petrofac Ltd. Market Data

Currency UK Pounds
Price 101.60p
Change Today -2.10p
52 Week High 188.00p
52 Week Low 91.40p
Volume 293,907
Shares Issued 345.91m
Market Cap 351.45m

Performance Indicators

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What The Brokers Say

Strong Buy 1
Buy 0
Neutral 8
Sell 0
Strong Sell 0
Total 9
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Petrofac Ltd. Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Sep-19 25-Apr-19
Paid 18-Oct-19 24-May-19
Amount 12.70¢ 25.30¢

Trades for 04-Aug-2021

Time Volume / Share Price
14:13 1 @ 102.00p
14:13 62 @ 101.91p
14:13 1,305 @ 102.00p
14:12 241 @ 101.60p
14:11 133 @ 101.60p

Petrofac Ltd. Key Personnel

CFO Alastair Cochran