Oil firm in 25% output rise

Takeover target Dragon Oil has reported a 25% increase in production output for the first half of the year.

The company is currently in an offer period, with its 54% shareholder, the Emirates National Oil Company (ENOC), looking to buy out minority investors for a combined €5.1bn.

Dragon said via a trading update yesterday that its average gross production amounted to around 92,060 barrels of oil per day (bpd) in the first six months of 2015. This was up from 73,440 bpd for the same period last year.