Shell Offers to Buy Cove Energy for $1.6B

Royal Dutch Shell Plc, Europe’s biggest oil company, offered to buy Cove Energy Plc for 992.4 million pounds ($1.6 billion) in cash.

Cove, the U.K. explorer that put itself up for sale last month, has a share in one of the biggest discoveries of natural gas off Mozambique that may support production of LNG to supply Asian markets.