Petrofac’s Unraveling Leaves Little to Creditors: The Brink

Nov. 1, 2025, 4:00 PM UTC

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Sudden Demise

When Petrofac told investors in mid-October that it was making “very good progress” toward restructuring its balance sheet, it seemed like things were finally looking up for the beleaguered energy-services company.

A lock-up ...

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