Petrofac Limited is a British multinational oil and gas company providing services to the production and processing industries. The London Stock Exchange (LSE) has listed the company under the ticker PFC. Petrofac Share Price as of this post is at 48.62 GBp.
Like any stock, Petrofac Limited’s shares in the stock market can be affected by various factors. This includes the company’s financial performance, industry trends, global economic conditions, and geopolitical events.
Petrofac Limited is a multinational oilfield services company based in London, UK. The company was founded in 1981 by current chairman Ayman Asfari and his brother Sami Asfari in Texas, USA.
Initially, the company focused on providing engineering and construction services to the oil and gas industry. In the 1990s, Petrofac expanded into the Middle East, providing services to the oil and gas industry in Saudi Arabia, Oman, and the United Arab Emirates.
In the early 2000s, Petrofac expanded its operations and began providing integrated services to oil and gas companies, including operations and maintenance. The company also expanded into new markets, including Asia and Africa.
In 2005, Petrofac was listed on the London Stock Exchange. The company continued to grow and acquired several companies in the oil and gas industry, including Devonport Management Limited in 2011 and TPO Engineering GmbH in 2013.
Petrofac has faced some challenges in recent years, including an investigation by the UK’s Serious Fraud Office in 2017 related to allegations of bribery and corruption. In addition, the oil and gas industry downturn has also impacted the company, leading to job cuts and a restructuring of the business.
Despite these challenges, Petrofac remains a significant oil and gas industry player. Thus, providing a range of services to clients worldwide.
- Strong market position. Petrofac Limited has a strong market position in the oil and gas industry, with a reputation for delivering high-quality services to major players in the industry.
- They have a diversified business model. Petrofac Limited’s diversified business model helps the company reduce risks associated with dependence on a single service or geography.
- It established a customer base. The company has a well-established customer base, including some of the world’s largest oil and gas companies. This provides a steady stream of revenue and helps to ensure long-term growth.
- Focus on innovation. Petrofac Limited’s strong focus on innovation enables the company to stay ahead of its competitors and develop new and improved solutions for its customers.
- Geographic presence. Petrofac Limited has a strong geographic presence, enabling the company to benefit from opportunities in different markets worldwide.
- Strong financial performance. Petrofac Limited has a strong financial performance track record, a solid balance sheet, and a healthy cash flow.
Main Competitors of Petrofac
Petrofac Limited operates in the energy and oil & gas industry, providing engineering, procurement, construction, and project management services to clients worldwide. Some of the main competitors of Petrofac in this industry include:
- Bechtel Corporation
- Fluor Corporation
- Saipem S.p.A.
- TechnipFMC plc
- McDermott International Inc.
- WorleyParsons Ltd.
- KBR, Inc.
- SNC-Lavalin Group Inc.
- Wood Group
- Jacobs Engineering Group Inc.
These companies offer similar services to Petrofac and compete for the same contracts and projects in the energy and oil & gas industry. However, each company has its strengths and weaknesses, and clients consider several factors when choosing a contractor, such as technical expertise, project management capabilities, cost, safety records, and environmental performance.