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Hence, we think value has returned to Petrofac and with a strong OEC order intake in excess of $6bn year to date this value appears underpinned.
A1 OEC's Future Not as Bright Members of the Organization of the Petroleum Exporting Countries have been enjoying what has been, to them, a perfect alignment of stars: high prices along with high production and high demand.
Barclays said: There are many reasons not to own Petrofac, in our view: its stuttering entry into its Integrated Energy Services (IES) business; its decision to go into Offshore Construction and its reliance on the Middle East for the bulk of its Onshore Engineering & Construction OECC) revenues, to name but three.
HANOVER COMPRESSOR CO., Houston, which compresses natural gas to make it easier to ship and store, agreed to buy the rival OEC Compression Corp., Dallas, for about $29 million in stock.
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