- Oil services company Petrofac said it was trading in line with its expectations, with its year-to-date order intake reaching $1.8bn.

Ahead of its interim result for the six months through June, the company also said that net debt at 30 June was expected to about $0.9bn, also in line with expectations. at 30 June 2018 in line with expectations

'We are well-positioned on several bids and tendering activity remains high with around $20bn of bid opportunities due for award in the second half of the year,' chief executive Ayman Asfari said.

'We delivered a major milestone in April with the sale of the JSD6000 installation vessel, in line with our strategy of focusing on our core and reducing capital intensity.'

'Furthermore, we are well positioned for the second half with good revenue visibility, a strong competitive position and healthy liquidity.'

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