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The latest announcement is out from Petrofac ( (GB:PFC) ).
Petrofac has reached an agreement in principle with SAMSUNG E&A and Saipem regarding claims related to the Thai Oil project, which is supported by the Ad Hoc Group of Bondholders. This agreement is a crucial step towards the company’s restructuring process, expected to be completed by the end of November 2025, pending necessary approvals and conditions. The restructuring is anticipated to impact Petrofac’s operations positively, allowing it to proceed with its strategic plans and potentially improving its market positioning.
The most recent analyst rating on (GB:PFC) stock is a Hold with a £0.20 price target. To see the full list of analyst forecasts on Petrofac stock, see the GB:PFC Stock Forecast page.
More about Petrofac
Petrofac is a leading international service provider to the energy industry, specializing in the design, construction, management, and maintenance of oil, gas, refining, petrochemicals, and renewable energy infrastructure. The company operates primarily in the Middle East and North Africa (MENA) region and the UK North Sea, with additional significant markets in India, South East Asia, and the United States. Petrofac is listed on the London Stock Exchange, although trading is currently suspended pending the publication of its Full Year 2024 Audited Accounts.
Average Trading Volume: 31,706,900
Technical Sentiment Signal: Strong Sell
Current Market Cap: £20.59M
Learn more about PFC stock on TipRanks’ Stock Analysis page.