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Dragon Oil sees profits surge
Dragon Oil said yesterday its profits surged 76 per cent in 2011, helped by a production ramp up at its Turkmenistan oil field and a higher oil price, though was silent on whether it would proceed with a takeover bid for explorer Bowleven. Dragon Oil posted full-year operating profit of $856.2m (£542m). It said in 2011, its oil production rose 30 per cent.