Latest news with #Petrofac
Yahoo
24-05-2025
- Business
- Yahoo
Are these 5 heavily-discounted UK shares secretly screaming buys to consider?
Over the last six months, the FTSE All Share has delivered a respectable 6% for holders of these UK shares. That's even after the stock market threw a tantrum in early April following the announcement of US tariffs. However, despite this overall upward trajectory, not every constituent has been so fortunate. Some of the worst-performing British stocks in 2025 include: Videndum (LSE:VID) – down 69% Mobico Group – down 66% Petrofac – down 65% Severfield – down 64% John Wood Group – down 52% In many cases, when a stock sees more than half its market-cap wiped out in the space of six months, there's cause for concern. However in some cases, a sharp drop in share price can present a lucrative buying opportunity if the underlying business is able to recover. As a quick crash course, Videndum focuses on making specialised premium hardware and software for the content creation industry. This includes camera supports, LED lighting, robotic camera systems, and live streaming solutions used by individual content creators as well as full-blown professional production studios. Through a combination of macroeconomic factors paired with worker strikes last year, the media & entertainment industry's in a bit of a cyclical pickle. And the impact of this has emerged in Videndum's financials. While market conditions have slowly begun recovering, Videndum's revenue stream has been on a downward trajectory since 2022. And pairing this with a series of impairment, discontinued operations, and restructuring charges, the bottom line has tumbled into the red. To top things off, management's warned that sales in the first half of 2025 are also likely to continue falling year-on-year. Needless to say, this isn't what investors like to see. However, there may be a glimmer of hope. The media & entertainment industry's expected to deliver a full recovery by the end of 2026. That could be the catalyst Videndum needs to re-spark growth. At the same time, the previously-mentioned restructuring efforts are anticipated to deliver a total of £18m in annualised savings, £15m of which are expected to be realised in 2025. Pairing this with ongoing renegotiations regarding its debt covenants, management seems to be taking the necessary steps to get back on track. So with the shares trading close to their 52-week lows, is now the time to consider buying? Looking at the latest forecasts, Videndum certainly appears to have explosive recovery potential. In fact, one analyst has projected the stock could venture as high as 425p, a 460% potential gain from current prices. However, the group's weakened financial position and slow recovery of its target markets definitely introduce considerable risk to an investment today. Personally, this isn't a tempting proposition right now. But it's still an interesting story to watch carefully moving forward. The other stocks on this list also have their challenges to overcome. Operational headaches and profit warnings are creating uncertainty for Mobico and Severfield. Financial restructuring issues and delayed results have resulted in Petrofac shares getting temporarily suspended, and questionable accounting practices have raised concerns for John Wood Group. None of these is good news for shareholders. So 'screaming buys' they may not be. But by digging deeper, investors may uncover potentially lucrative opportunities among all the chaos. The post Are these 5 heavily-discounted UK shares secretly screaming buys to consider? appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Zaven Boyrazian has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
Yahoo
21-05-2025
- Business
- Yahoo
The Real Strategic Reasons Why Trump Is Lifting Sanctions On Syria
U.S. President Donald Trump's decision last week to lift sanctions on Syria is the logical next step in shifting the country back into the U.S. sphere of influence that began with Washington's crucial role in ending the rule of former President Bashar al-Assad on 8 December. It is strategically vital to each of the major global powers for several reasons, with the speed of this move by the U.S. reflecting that, and the fact that Russia especially, has been busily seeking to rebuild its strong grip on the country through several overtures to its new President, Ahmed al-Sharaa. The plans that Washington has in place for Syria now are in large part the same as those that were drawn up in early 2011 when the U.S. believed the al-Assad regime would fall in a matter of weeks. These included options to support Syria's production of oil and gas, as it was seen as key to the economic and political rebuilding process that would see the new Syria pivot back to the West. Before Syria became embroiled in its civil war, it was a major oil producer, with an output of around 400,000 barrels per day (bpd) of crude oil from proved reserves of 2.5 billion barrels. Prior to that – before the recovery rate started to decline due to a lack of enhanced oil recovery techniques being employed at the major fields -- it had been producing nearly 600,000 bpd. Europe imported over US$3 billion of oil per year from Syria up to the beginning of 2011, and many European refineries were configured to process the heavy, sour 'Souedie' crude oil that makes up much of Syria's output, with the remainder being the sweet and lighter 'Syrian Light' grade. Most of this – some 150,000-bpd combined – went to Germany, Italy, and France, from one of Syria's three Mediterranean export terminals: Banias, Tartus, and Latakia. As an adjunct to this, a multitude of international oil companies were operating in Syria's energy sector, including the UK's Shell, Petrofac and Gulfsands Petroleum, France's then-Total, the China National Petroleum Corporation, India's Oil and Natural Gas Corp, Canada's Suncor Energy, and Russia's Tatneft and country's gas sector was at least as significant as its oil one, with output of about 316 billion cubic feet per day (bcf/d) of dry natural gas, and proven reserves of 8.5 trillion cubic feet (tcf). Russia had already been a major presence in this sector before the civil war began in 2011. With Stroytransgaz starting up the build out of Syria's South-Central Gas Area in 2009, which by 2011 had boosted the country's natural gas production by about 40%. This allowed Syria's combined oil and gas exports to generate a quarter of government revenues at that point, making it the eastern Mediterranean's leading oil and gas producer at the time. With heavy military intervention from Russia having shored up al-Assad's power, the two nations agreed to the 2015 Cooperation Plan that covered the restoration of at least 40 energy facilities in Syria (including offshore oil fields), together with the build-out of the power sector. The deal also covered the full reconstruction and rehabilitation of the Aleppo thermal plant, the installation of the Deir Ezzor power plant, and the expansion of capacity of the Mharda and Tishreen plants, with a view to re-energising Syria's power grid and restoring the main control centre for the grid back to Damascus. An additional key infrastructure project was the repair and capacity-boosting upgrading of the Homs oil refinery (Syria's other refinery was then in Banias). The initial target capacity was 140,000 bpd, Phase 2's was 240,000 bpd, and Phase 3's was 360,000 bpd. The intention was that it could also be used to refine Iranian oil coming through Iraq if needed, before onward shipment into southern Europe. The U.S.'s original plans – and the current ones – aim to include a similarly wide-ranging brief for the resuscitation of Syria's oil and gas sectors and are also set to feature a dramatically enhanced security presence to safeguard the interests of U.S. and Western firms instrumental in these projects. The U.K. – which played a vital role alongside the U.S. in the ousting of al-Assad – recently lifted sanctions on several major Syrian firms, particularly those connected to its former cornerstone oil and gas sectors as part of a coordinated strategy by the West to secure the western flank of the Middle East that has unfettered access to the Mediterranean Sea. The coastline encompasses Turkey, Syria, Lebanon, Israel and Egypt and is regarded as a strategic zero-sum game by both the West and the East, given the access it provides to the world's sea routes and to land routes along in southern Europe and northern Africa, as fully analysed in my latest book on the new global oil market order. The multiple advantages of securing influence over what happens down that coastline are magnified for whichever side has it by the fact that the other side does not. For Russia, it will be even more of a strategic disaster if the U.S. is successful, given its own vast military and intelligence presence in the country. This is the reason why the first official high-level visit to Syria after the fall of al-Assad was by Russian Deputy Foreign Minister Mikhail Bogdanov on 28 January. He met with President al-Sharaa, together with his Foreign Minister Asaad al-Shaibani and Minister of Health Maher al-Sharaa. After the meetings, he confirmed that his country had been in direct contact with al-Sharaa's radical Islamist group, Hayat Tahrir al-Sham, about the future of its energy projects and of its key military bases across Syria as well. These comprise the naval base at Tartus – Russia's only Mediterranean port, its Khmeimim air force base near Latakia, and its huge listening station nearby. Aside from these prized assets and its oil and gas riches, Russia prizes Syria as the biggest country on the western side of the Shia Crescent of Power that Moscow had been meticulously developing for years as a counterpoint to the U.S.'s own sphere of influence centred then on Saudi Arabia (for hydrocarbons supplies) and Israel (for military and intelligence assets). By Simon Watkins for More Top Reads From this article on
Reuters
20-05-2025
- Business
- Reuters
UK's Petrofac secures court approval for $355 million funding boost
May 20 (Reuters) - British oilfield services provider Petrofac (PFC.L), opens new tab on Tuesday said it has secured High Court approval for its restructuring plan, unlocking $355 million in funding to significantly reduce its debt. The embattled firm struggled with cost overruns and payment delays for most of last year, leading to multiple profit warnings in the past year.
BBC News
16-05-2025
- Business
- BBC News
Job cuts at Flotta oil terminal 'significant' says union
At least 29 jobs have been cut at the Flotta oil terminal in trade union Unite has described the job losses at the site - which leave a work force of 156 - as a "significant reduction". The Flotta terminal has been a critical piece of North Sea infrastructure since 1977. In a statement, main contractor Petrofac said it had collaborated with terminal operators Repsol UK and Unite to introduce "job sharing and a voluntary redundancy scheme to reduce the number of colleagues affected." A total of 12 Repsol employees have left, mostly through voluntary now has 51 staff at the terminal, with some moving to part time roles to stay in main contractor at the site is Petrofac which has carried out 17 compulsory redundancies - which it said was in response to the changing needs of its client - leaving it with about 40 workers at other contractors, Altrad and ESS, also operate at the claims "hostile" polices towards oil and gas are partly to blame for the UK government has said its Energy Profits Levy, known as the windfall tax, aims to ensure North Sea oil and gas producers contribute their fair share towards energy transition. New ownership At its height, the Flotta oil terminal processed 400,000 barrels of oil a oil is delivered by pipeline from North Sea oil fields and then shipped away by oil and gas the flow of oil has slowed but the facility is expected to remain in operation until the early 2030s. Repsol UK has investigated green hydrogen production at the Flotta site and creating a decommissioning hub but the plans have come to terminal is due to pass into new ownership later this year when a deal between Repsol UK and Norway's Neo Energy is new company, Neo Next, will be controlled by the Norwegian company, which will have the majority share.
STV News
12-05-2025
- Business
- STV News
Offshore helicopter crew reaches milestone with 1,000 taskings
The crew providing search, rescue and medical support to the North Sea oil and gas industry have reached a landmark 1,000 taskings. Offshore Helicopters Services (OHS) have been funded by a coalition of around 20 oil and gas operators to provide 24/7 search and rescue (SAR) cover to the industry since 2015. Crews regularly train, and respond to around 100 emergency calls for assistance on North Sea installations every year. OHS Managing Director Martin Stubbs said: 'To have completed one thousand tasks over the past ten years is a great achievement for the team. 'They often operate in very harsh conditions, helping people when they are at their most vulnerable. 'The number of tasks reinforces just how vital the SAR service is, and we draw on that experience to ensure we are constantly evolving, using the latest life-saving equipment, and are prepared to respond to incidents at any time.' When an incident happens on an installation, the crew alerts the coastguard, who then get in touch with the Emergency Response Service Centre, coordinated by Petrofac. The team has taken over 12,000 calls made up of muster drills, exercises and real incidents, since its inception in 2006. Graham Brown, Crisis and Response Manager at Petrofac said: 'Collaboration, driven by shared purpose, with the team at OHSUK has been key to safely and successfully delivering one thousand taskings; a milestone the Petrofac team is proud to be part of. 'Whilst we undertake emergency response on a daily basis for our clients, as the SAR Tasking Coordinator, we support the entire North Sea energy industry. 'Seeing OHS continually evolve with the introduction of the new fleet elevates the service provision in support of the sector's safety commitment.' Two new bespoke Leonardo AW139s helicopters will spearhead the SAR fleet as part of their new contract to provide the SAR service for a further decade. Search and Rescue Manager Keith Chalmers said: 'We have the capability to respond to a wide range of incidents to provide a high level of medical care and rescue provision, but in an extreme environment, and get them to a place of safety as quickly as possible.' Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
