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Tuesday, 24 January 2012

Dragon Oil of Dubai is breathing fire - The National

Shares in Dragon Oil, an exploration company in Dubai, rose to a two-month high after announcing a 30 per cent increase in daily production last year.

The company's Dublin-listed shares rose 2 per cent to €6.07 each, despite worries of securing a sales agreement with the government of Turkmenistan. Dragon Oil is expected to announce its financial results next month.

The UAE's exchanges rose, with the Dubai Financial Market General Index gaining 0.4 per cent to 1,340.70, while the Abu Dhabi Securities Exchange General Index climbed 0.5 per cent to 2,352.74.