Parkmead Group Plc, the U.K. oil company run by former Dana Petroleum Plc Chief Executive Officer Tom Cross, raised $66 million to fund its North Sea expansion.
Lebanon postponed its first auction of licenses for offshore oil and natural-gas exploration until April 10, Energy Minister Gebran Bassil said, stalling bids for a third time amid political differences in the Arab state.
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses and prices are from the last close.
The following is a list of companies whose shares may have unusual price changes in U.K. and Irish markets. Stock symbols are in parentheses and prices are from the last market close.
U.K. stocks declined for a third day to a two-week low on concern the recovery in the world economy may be losing pace.
U.K. stocks advanced, with the benchmark FTSE 100 Index rebounding from a ten-month low, as basic-resources companies rallied and Dana Petroleum Plc received a takeover approach.
Dana Petroleum Plc, the U.K. explorer acquired by Korea National Oil Corp. in 2010, plans to raise its stake in a North Sea oilfield, increasing its production from the area by more than seven times.
Korea National Oil Corp. sweetened its offer for Dana Petroleum Plc to 1.7 billion pounds ($2.6 billion) as part of a plan to more than double output by 2012.
Korea National Oil Corp. , the state- owned energy company engaged in a $2.6 billion hostile takeover battle for Dana Petroleum Plc , said its offer is final.