Lundin Petroleum News
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Updated 1 hour, 1 minute ago
The U.S. House of Representatives passed legislation to approve the Keystone XL oil pipeline, the eighth time congressional Republicans have advanced a measure promoting the project.
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Lundin Petroleum AB, a Swedish gas and oil exploration company, fell to its lowest level in two months after the company said a wildcat well in the North Sea was abandoned as a dry hole.
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Det Norske Oljeselskap ASA, an oil producer with a stake in Norway’s biggest find in 40 years, rose the most in three months in Oslo after the latest well at the Johan Sverdrup field signaled the possibility of more oil.
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Lundin Petroleum AB discovered oil in Norway’s North Sea, claiming a new field in an area that yielded one of the country’s largest recent finds.
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European stocks climbed, rebounding from the biggest three-day selloff since July, as German industrial production increased more than forecast and investors awaited the start of U.S. earnings season.
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In the wake of plummeting oil output, Norway, western Europe’s biggest petroleum producer, may have found its new money spigot: an ice-free expanse of the Arctic Ocean known as the Barents Sea.
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Lundin Petroleum AB may “significantly” raise estimated reserves from the biggest oil discovery in Norway in 20 years, Chairman Lukas Lundin said.
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Lundin Petroleum AB, a Swedish oil and gas company, fell for a fifth day out of six in Stockholm trading after Nomura Holdings Inc. said it prefers the shares of rival oil producers and cut its recommendation on the stock.
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Statoil ASA, Norway’s biggest oil and gas producer, rose from an 18-month low after a new find in the 27-year-old Gullfaks field in the North Sea raises prospects of cheaper oil.
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U.K. stocks advanced, rebounding from the biggest three-day drop in more than eight months, as a report showed German industrial production increased more than forecast in February.
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