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Thu 08 Aug 2008Tullow Oil sees profits soar by 181%
PROFITS AT exploration company Tullow Oil soared by 181 per cent in the first half of 2008, due to high oil and gas prices.
Although production increased by just 1 per cent, to the equivalent of 70,550 barrels of oil a day, and the volume of sales fell back by 2 per cent, rising oil and gas prices saw pretax profits at the firm jump from £66.6 million (€83.6 million) for the first half of 2007 to £187.3 million for the same period in 2008.
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