ENERGY

Arco Expected to Bid for Aran Energy: According to published reports in London, Atlantic Richfield Co. is expected to announce an offer today that values the Irish oil company at $280 million. No formal talks have taken place between the two companies. However, Arco executives were seen in Dublin last week and are said to be seeking a recommendation from the Aran board, the Sunday Telegraph reported. Officials at Los Angeles-based Arco had no comment. With reserves rapidly declining at its key Prudhoe Bay, Alaska, field, Arco is looking to develop new fields abroad. Aran has a 17.6% stake in the West of Shetland oil field, which analysts say could be one of the biggest discoveries since the North Sea oil fields. Analysts anticipate that Aran’s founder, Michael Whelan, will treat the Arco offer as a hostile bid.