Atlantic Richfield Co. said it was continuing...

Atlantic Richfield Co. said it was continuing to buy stock in Britoil PLC, the United Kingdom’s largest independent oil company, which is also being pursued by rival British Petroleum Co. Arco bought more Britoil stock Monday but declined to say how much, said Arco spokesman Al Greenstein. In a filing with the Securities and Exchange Commission on Friday, Arco said its stake in Britoil had increased to 14.7%, up from 7.7% on Dec. 11. Arco has agreed to raise its stake to 49.9% with a combination of open-market purchases and exchange of its international oil and gas operations for Britoil stock. British Petroleum’s stake in Britoil stands at 29.9%.