Petrofac Administration: Oil Firm Collapses Putting 2,000 Jobs at Risk as UK Watchdog Eyes Greencore-Bakkavor Deal

In a significant development within the UK’s energy sector, Petrofac, a prominent oil and gas services company, has entered administration, placing over 2,000 jobs at risk. This move has sent shockwaves through the industry, highlighting ongoing challenges in the North Sea oil and gas sector. Simultaneously, the UK Competition and Markets Authority (CMA) is scrutinizing the proposed £1.2 billion merger between Greencore and Bakkavor, raising concerns about potential competition issues in the convenience food market.