Petrofac Limited (POFCY)
- Simply Wall St.
Institutions own 26% of Petrofac Limited (LON:PFC) shares but retail investors control 57% of the company
Key Insights Significant control over Petrofac by retail investors implies that the general public has more power to...
- Reuters
Two men charged with bribery over Petrofac contracts, UK court listings show
LONDON (Reuters) -Two men have been charged with bribery in relation to the award of contracts to oilfield services provider Petrofac and are due to appear in a London court on Monday, according to court listings. Marwan Chedid is charged with three counts of bribery, alleged to have taken place between 2012 and 2018. George Salibi is charged with two counts of bribery.
- Reuters
UK's Petrofac secures performance guarantees, boosting shares
The company, grappling with payment delays and cost overruns at its largest unit - engineering and construction, had warned earlier this month that it would no longer be able to meet its annual forecast of "broadly neutral free cash flow". Active discussions were ongoing to secure guarantees required for other contracts, Petrofac said. Performance guarantees refer to a commitment to honour the terms of the deal.
