Circle Oil profit up 41pc in 2012

Suzie Neuwirth
AIM-LISTED oil and gas explorer Circle Oil yesterday announced that operating profits in 2012 had soared 41 per cent to $28.2bn (£18.4bn), compared to $20bn during the previous year.

Meanwhile group revenue jumped 25 per cent to $73.3bn.

Oil and gas output in Egypt and Morocco rose 13 and 86 per cent respectively, the firm said.