Oil exploration company Petrel Resources reduced its losses in the first six months of the year, despite ongoing difficulties in its global activities.

Tullow Oil has entered talks aimed at selling off its non-core Asian assets, but no deal is expected to conclude before the end of the year.

Talks aimed at averting a 72-hour strike by London Underground maintenance workers next week ended without agreement tonight.

Tullow Oil plc has today issued an upbeat interim management statement, for the period July 1 to November 8, 2011.

HIGHER sales volumes and a lift in commodity prices are likely to have boosted Tullow Oil’s revenues to a record level of over $1 billion in the first half of this year.

TULLOW Oil is expecting its most lucrative asset, the Jubilee field in Ghana, to further boost its overall profitability this year following its partial contribution to a more than four-fold increase in pre-tax profits last year.

TULLOW Oil has said that it generated total revenue of approximately $1.1 billion (€800m) last year, as opposed to the $916m (€667m) figure it reported in 2009.

Panicked residents fled a coastal city that has been hit twice already this decade by huge floods as an intensifying Hurricane Tomas moved up Haiti’s north western coast.

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.

TULLOW Oil has confirmed that it will take on both China National Offshore Oil Corporation (CNOOC) and Total as equal farm-in partners on its newly acquired Ugandan assets, once final government approval is granted.

Tullow has reported a 93% drop in pre-tax profits in line with market expectations for the year ending December 2009.

TULLOW Oil has made a second potentially large-scale oil and gas discovery in Ghana, which could come close to rivalling its nearby Jubilee field, in terms of production levels.

SHARES in Tullow Oil – the second-highest valued Irish public company – hit a record high of £12.87 (€14.23) in early trading in London yesterday on the back of speculation that BP may lodge a bid for Kosmos Energy LLC’s stake in the Jubilee field in Ghana, which is operated by Tullow.

Tullow Oil has today issued an upbeat operational update in respect of its activities in Uganda and Ghana.

IRISH oil and gas exploration company Tullow Oil has said operational performance in the year to date has been strong, continuing last year’s trend.

Exploration company Tullow Oil says estimates of resources at two of its oil fields in Africa are likely to be upgraded after the latest drilling results.

Tullow Oil has issued a trading statement for the first half of the financial year, revealing highlights including a number of positive updates.

A private consortium in charge of upgrading London Underground stations and tracks today launched a formal bid to recover an estimated £1bn (€1.48bn) it believes it is owed for extra work carried out under its deal.

A BITTER row broke out last night after Tube drivers refused to carry out security inspections on London Underground trains.

A row broke out tonight after Tube drivers refused to carry out security inspections on London Underground trains.

Connections of Etlaala were pleased with the colt’s performance in Tuesday evening’s betfair.com Temple Stakes at Sandown, and he will be kept in the sprinting division for his next outing.

Hundreds of baggage handlers at Gatwick airport will stage a 48-hour strike this weekend in a long-running row over working practices and the suspension of a union official, it was announced today.

IRELAND escaped lightly from great blasts of snow, ice and freezing temperatures that wrought havoc across Britain and much of Europe and the US yesterday.

A strike by London Underground staff has crippled Tube services, causing chaos for people travelling into the British capital, who switched to buses and cars to get to work.