Premier Oil posts record results

FTSE 250 exploration and production firm Premier Oil posted pre-tax profits of $194.6m (£122.5m) for the first half yesterday, up from $32.5m the year before. The results were flattered by acquisitions and new ventures in Vietnam, Iraq, Norway and the UK. Average production rose 58 per cent year-on-year, hitting 58,400 barrels of oil a day on average.