The collapse of Petrofac’s holding company has sparked a wave of political blame — but the real story lies in years of global missteps and a faltering energy transition, says Brian Wilson

It is not exactly a secret that there is a long back-story to the problems of Petrofac, the energy construction and facilities group which employs more than 8,000 people around the world including 2,000 in the UK – many of them in Aberdeen.

As two minutes research on Google would have revealed to Mr Stephen Flynn, the permanently apoplectic SNP leader at Westminster, the Petrofac problems have nothing at all to do with the policies of the UK Labour government in relation to the North Sea.

As I shall return to, I am well on the record as a friendly critic of these policies – right back to the days when Mr Flynn and his colleagues were hand in hand with the Greens who could not shut down the North Sea quickly enough.

But I also have an inclination to check facts before opening my mouth, not least where people’s jobs and the concerns of their families are involved. In that context, Mr Flynn’s behaviour this week was a disgrace which should not be readily forgotten.

The Petrofac tale of woe has evolved over years and includes a big bribery and corruption case in the Middle East, massive losses on a construction........

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