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Ministers on alert as North Sea supplier scrambles to avert collapse
Yahoo Finance· 2025-10-25 02:51
Ed Miliband, the Energy Secretary, has put officials on alert for the potential collapse of a crucial North Sea operator, amid fears that the Government will be forced to step in. Petrofac, one of the UK’s leading offshore oil and gas contractors, was on Friday scrambling to secure its future after the loss of a key contract left it pushed to the brink of administration. Crisis talks with lenders are scheduled for the weekend. The Aberdeen-based company’s 2,000 skilled UK workers provide operational and c ...