EnergyWatch

Lundin stock surges after North Sea permit

The Swedish oil company's stock is Europe's top appreciator after the Norwegian Petroleum Directorate gave its green light to drill on the fringe of the southern Solveig field.

Photo: Lundin Petroleum PR

Sweden's Lundin Energy skyrockets by 8.4 percent on Stockholm's stock exchange early Thursday afternoon.

The appreciation is attributed to the company receiving a permit to drill in the North Sea as well as getting a favorable assessment from Norwegian bank DNB, writes Danish bank Sydbank in an analysis.

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