Former Petrofac Bosses Charged With Bribery by SFO [BNN Bloomberg (Canada)]
PETROFAC LTD UNSP/ADR (POFCY)
NASDAQ:AMEX Investor Relations:
petrofac.com/en-gb/investors
Company Research
Source: BNN Bloomberg
The Serious Fraud Office said Friday it charged ex-chief operating officer Marwan Chedid and a senior executive George Salibi, who both worked in Petrofac groups based in the United Arab Emirates. Both will appear at Westminster Magistrates Court on Monday. The individual charges come after Petrofac was ordered to pay $95 million by a London judge in 2021 for failing to prevent bribery between 2011 and 2017. The company was fined after it plead guilty to seven bribery offenses. Petrofac is one of the largest providers of services to oil and gas producers, helping plan, construct and operate facilities with a particular focus on the Middle East and North Africa. “Bribery distorts financial markets, erodes trust in institutions and can undermine the global reputation of UK business,” Nick Ephgrave, director of the SFO, said in a statement. The SFO alleges that between 2012 and 2018 Chedid and Salibi were both involved in offering and paying agents over $30 million to influence
Show less
Read more
Impact Snapshot
Event Time:
POFCY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
POFCY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
POFCY alerts
High impacting PETROFAC LTD UNSP/ADR news events
Weekly update
A roundup of the hottest topics
POFCY
News
- UK's Petrofac says still grappling with challenging contracts, shares tumble [Reuters]Reuters
- Institutions own 26% of Petrofac Limited (LON:PFC) shares but retail investors control 57% of the company [Yahoo! Finance]Yahoo! Finance
- UK's Serious Fraud Office charges two former Petrofac executives with bribery [Reuters]Reuters
- Two men charged with bribery over Petrofac contracts, UK court listing show [Reuters]Reuters
- Akastor ASA: DDW Offshore awarded contract extension [Yahoo! Finance]Yahoo! Finance