Petrofac's restructuring overhang persists with debt covenants tight despite a recovering Middle East E&C market. Legacy contract losses and SFO settlement costs continue to weigh on cash. New order intake is positive but margins remain compressed versus pre-crisis levels. Equity dilution risk from refinancing remains a binding constraint on valuation.
Thesis reviewed May 29, 2026
Petrofac Limited is headquartered in United Kingdom, which is currently showing moderate signals.
π¬π§United Kingdom48NEUTRALView United Kingdom risk detail ββ‘Energy80REDUCE| Ticker | Company | Score | Gap | Signal Ξ | Action |
|---|---|---|---|---|---|
| SU | Suncor Energy Inc. | 74 | +14% | β78% | WATCH |
| TTE | TotalEnergies SE | 74 | +10% | β78% | WATCH |
| FTI | TechnipFMC plc | 74 | +20% | β78% | WATCH |
| BP | BP plc | 74 | -10% | β78% | AVOID |
| HAL | Halliburton Company | 74 | +16% | β78% | WATCH |
| VLO | Valero Energy Corporation | 74 | +17% | β78% | WATCH |
| LNG | Cheniere Energy, Inc. | 74 | +15% | β78% | WATCH |
Investors who hold PFC may also have indirect exposure through these country funds.
Petrofac in talks with bondholders on debt restructuring
Middle East E&C tendering active but margin discipline holds