Douglas Fraser
Business and economy editor, Scotland
PetrofacOne of Britain’s leading energy services firms with a big presence in the North Sea, Petrofac, has reported that a serious fraud investigation is causing it “real and material” harm.
It reported a pre-tax loss of $180m during 2020, as revenue dropped from $5.5bn to $4.1bn and contracts shrunk.
Chief executive Sami Iskander announced a new strategy to turn the company around following a series of setbacks.
These included the ongoing Serious Fraud Office (SFO) inquiry.
Former global head of sales David Lufkin pleaded guilty in a London court in January to three charges of bribery and corruption…
