Royal Dutch Shell has agreed to buy Cove Energy for £1.12-billion, outbidding PTT Exploration and Production for access to East Africa’s gas reserves.

The burst North Sea pipeline is not leaking nearly as much oil as the Gulf of Mexico spill last year, but it’s the worst incident there in 10 years.

BP ruled out a share issue and talk persisted of sovereign wealth fund interest in the British oil major, boosting its shares on Tuesday.