RIO News: Directors’ Deals: Petrofac directors buy the dip - 7th Jan 2023, 5:00am

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As the 86 per cent slide in Petrofac’s share price between 2018 and 2022 indicates, there have been more sellers than buyers in its shares in recent years. In October 2021, the Serious Fraud Office secured convictions against the energy services company for seven counts of bribery. Petrofac admitted its executives paid £32mn of bribes to win oil contracts worth around £2.6bn in Iraq, Saudi Arabia and the United Arab Emirates.

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