Mohamed Fayed does well in oil

Mohamed Fayed, the multi-millionaire owner of Harrods, has struck oil – literally. Following a short trial in the London High Courts on Thursday, he was awarded a share in the proceeds of three oil wells near his country house, Barrow Green Court, in Surrey. The ruling means that he is now entitled to a nine per cent share of the annual £7m income that accrues from three rigs.

The Egyptian tycoon, whose son Dodi Fayed and drunken chauffeur Henri Paul died in the crash that killed Diana, Princess of Wales, sued the British-based, offshore oil company Star Energy for trespass when he discovered that the pipes from its rigs ran underneath his land. He first became suspicious in 1992 when he spotted a small oil rig near his estate, however it was not until two years ago, when he saw records held at the British Geological Survey, that he received confirmation.

It is a nice pay day for Fayed, whose business empire is valued at £500m. The operation produces just over one million barrels - worth around £10 million – a year, meaning he will trouser a cool £700,000. Said Fayed: "Justice has been done".