Tullow Oil shares surge on return to first-half profitability

Tullow Oil chief executive Rahul Dhir.

Shares in Irish-founded exploration company Tullow Oil shot up, by around 5%, on the back of it reporting a return to profit in the first half of this year.

Africa-focused Tullow said post-tax profit, for the six months to the end of June, amounted to $93m (€79m), compared to a loss of $1.33bn (€1.13bn) for the first half of last year, an outcome which was heavily impacted by impairment charges.