Petrofac files for administration putting 2,000 jobs at risk
27th Oct 2025 07:18
(Sharecast News) - Troubled oil services firm Petrofac on Monday filed for administration, putting 2,00 jobs at risk.
Read morePetrofac warns of possible delays to long-running restructuring plans
21st Oct 2025 08:24
(Sharecast News) - Petrofac warned on Tuesday that crucial restructuring plans had been hit by a change in circumstances around certain stakeholders.
Read morePetrofac confirms restructuring will leave shareholders 'no residual value'
17th Oct 2025 07:54
(Sharecast News) - Struggling energy infrastructure company Petrofac has announced its proposed restructuring will result in "no residual value" for existing shareholders.
Read morePetrofac restructuring on track as key talks continue
1st Oct 2025 08:29
(Sharecast News) - Energy services firm Petrofac confirmed on Wednesday that key discussions with Samsung E&A and Saipem were advancing, as it inched towards completing long-running restructuring plans.
Read morePetrofac strikes deal over Thai oil project claims
11th Sep 2025 08:01
(Sharecast News) - Petrofac said on Thursday that it has reached an agreement in principle with Samsung E&A and Saipem over claims linked to the Thai oil project, marking a key step towards completing its planned restructuring.
Read morePetrofac secures extension to lock-up agreement
1st Aug 2025 07:43
(Sharecast News) - Petrofac announced on Friday that it has secured an extension to its lock-up agreement with creditors and investors until 30 November, reinforcing stakeholder support for its ongoing restructuring efforts following a legal setback last month.
Read morePetrofac delays results as it progresses restructuring plan
21st Mar 2025 07:22
(Sharecast News) - Petrofac said in an update on Friday that a UK court has approved the proposed creditor class composition for its financial restructuring plan, allowing it to proceed with creditor meetings.
Read morePetrofac increases fundraising target amid ongoing restructuring efforts
24th Feb 2025 09:47
(Sharecast News) - Energy services firm Petrofac increased its planned equity raise from $194.0m to $224.0m on Monday, taking its total restructuring plans to an estimated cost of $355.0m.
Read morePetrofac enters into binding agreement with creditors on restructuring terms
23rd Dec 2024 08:35
(Sharecast News) - Petrofac said it had entered into a binding agreement with key financial creditors on the terms of a comprehensive restructuring "to significantly strengthen the financial position of the group" and enable it to deliver its strategy.
Read morePetrofac extends forbearance deal on senior secured notes
18th Nov 2024 08:52
(Sharecast News) - Petrofac announced an extension of its forbearance agreement regarding the non-payment of interest coupons on its senior secured notes on Monday.
Read morePetrofac shares tumble as it reports challenging first half
30th Sep 2024 09:54
(Sharecast News) - Petrofac reported a challenging first half on Monday, with revenue reaching $1.24bn, a slight increase from $1.23bn in the same period in 2023, as it recorded a first-half EBIT loss of $106m, widening from a $72m loss a year earlier.
Read morePetrofac again extends deadline for missed interest payments
23rd Sep 2024 08:06
(Sharecast News) - Shares in Petrofac rose on Monday after the energy infrastructure services group secured yet more additional time with its bondholders to make its interest payment obligations.
Read morePetrofac gets extension on senior note forbearance agreement
23rd Aug 2024 11:35
(Sharecast News) - Energy services company Petrofac announced an extension of its existing forbearance agreement for the non-payment of interest on its senior secured notes on Friday.
Read morePetrofac's delayed results reveal $505m loss as talks with creditors continue
31st May 2024 08:01
(Sharecast News) - Petrofac, the energy services group whose shares are currently suspended, has finally released its delayed annual results for 2023, which showed a net loss of more than half a billion dollars following a "challenging year".
Read moreLondon close: Stocks manage to finish above the waterline
29th Apr 2024 15:08
(Sharecast News) - London markets showed resilience on Monday, finishing in the green as investors looked to the start of the US Federal Reserve's policy meeting.
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