Petrofac profit rises 20 percent as sale of oil assets continues

(Reuters) - Profits at UK oilfield services provider Petrofac Ltd rose 20 percent in the first half of 2018 as a recovery in global crude prices drove activity, although the company said it remained some way off being able to raise prices. The results bode well for a refocusing on core business after a difficult period marred by investments in production that fell afoul of the 2014 collapse in oil prices.The company's main measure of profit rose to $190 million (147.39 million pounds) compared..