Dana lifted by oil price as profits increase to £439m

DANA Petroleum recorded a 10-fold rise in pre-tax profit to £439 million and parent Korea National Oil Corporation (KNOC) received £100m in dividends as the company benefited from soaring oil prices in its first full year of ownership by the Asian oil giant.

Accounts filed at Companies House show that revenues at the Aberdeen-based company rose by 71.2% to nearly £1.1 billion for the 2011 calendar year from £624.4m in 2010, a figure that was restated to take account of Dana taking on KNOC's North Sea interests.

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