Lundin Petroleum Comes up Dry in Arctic

Swedish oil firm Lundin Petroleum has hit a dry well in the Norwegian Arctic, the firm said on Wednesday.

"The well was dry and has been plugged and abandoned," it said in a statement.

Lundin Petroleum has a 40-percent stake in the license, called PL708, Russia's Lukoil has 20 percent, Edison has 20 percent, Lime Petroleum and North Energy have 10 percent, respectively.

Reporting by Gwladys Fouche