Afren output hits top of guidance

Shares in Africa-focused oil explorer Afren yesterday rose more than four per cent after the firm reported 2013 output of 47,112 barrels of oil per day, at the upper end of guidance, and revenue of $1.65bn (£1bn). The firm said it plans to increase investment in the Ebok field in Nigeria in the coming year. “2013 has been another exceptional year for Afren, with a combination of record financial results, production ahead of guidance and industry leading exploration success,” said chief executive Osman Shahenshah.