Tullow profits lift on higher oil prices

Tullow Oil this morning said higher oil prices had helped to push pre-tax profits for the first half of the up 152% to $131m (€103m) compared to $52m (€40m) for H1 2009.

The company said the average oil price per barrel for the six-month period to end June was $77, a 45% increase on the same period last year.