John E Yeo

Shell Exploration and Production (XL) B.V., or Shell Bidco, a wholly owned subsidiary of Royal Dutch Shell PLC (RDSA.LN), said Thursday the offer for Cove Energy PLC (COV.LN) has now lapsed as it hasn't received the required number of acceptances.

Faroe Petroleum PLC (FPM.LN) said Thursday that it has doubled the size its loan facility to underpin its plans for organic and acquisition growth within its core areas of the Atlantic margin, the North Sea and Norway.

European stock markets largely traded lower on Thursday, struggling under the weight of a clutch of downbeat earnings news across a range of sectors and big blue-chip names.

Polish state-controlled refiner PKN Orlen SA (PKN.WA) swung to a PLN5.2 million zloty ($1.51 million) second-quarter loss Thursday, compared with net profit of PLN899 million a year ago, as a downward revaluation of its oil reserves offset a period of fat margins.

Faroe Petroleum PLC (FPM.LN) said Thursday that the Cooper well in the Norwegian Sea found oil and gas and will now be tested to evaluate its commercial potential, with results anticipated in the coming weeks.

Banco Santander SA's (SAN) second-quarter profit sharply undershot expectations Thursday as the Spanish banking giant set aside almost all of its earnings as provisions against real-estate losses in its home market.

Turkcell Iletisim Hizmetleri AS (TKC), Turkey's leading cell phone operator, late Wednesday posted better-than expected results in the second quarter, mainly due to higher net financial gains on the back of the removal of a foreign exchange loss stemming from operations in Belarus.

Private equity firm Carlyle Group (CG) and Australia's Seven Group Holdings (SVW.AU) are considering raising up to A$700 million (US$722 million) through an initial public offering of equipment-hire group Coates Hire, two people familiar with the matter said Thursday.

Kazakhstan's largest copper miner, Kazakhmys PLC (KAZ.LN), Thursday reaffirmed that it's on track to meet its full-year copper output target after its copper output rose in the second quarter compared with the first quarter when production was hampered by severe winter weather.