LONDON / WAM UAE-linked oil services firm Petrofac has secured its third project under a 10-year framework agreement with Petroleum Development Oman (PDO) with the award of a procurement services project for the Mabrouk North East Line Pipe Procurement Project in Oman. The contract, valued at approximately $75 million, is the latest to be awarded under the agreement signed in …

Bloomberg Trafigura Group Ltd. racked up a 92 percent gain in profit in the first half of its financial year, taking advantage of price swings in the petroleum market and a dominant position exporting crude from the US. Joining peers in a strong performance, the third-biggest independent oil trader’s net income jumped to $426 million in the six months to …

Bloomberg Connecticut is set to massively increase investment in offshore wind after the state Senate passed a bill to require utilities to buy as much as 2 gigawatts of the renewable energy source, equivalent to almost a third of the state’s electricity needs. Regulators will have 14 days to produce a plan to solicit bids from developers. Previously, the state …