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Brazil's state-controlled Petrobras missed fourth-quarter profit estimates on March 21 after revenue came in well below expectations, Reuters reported.
The deal offers Mozambique the chance to transform itself from one of the world's poorest countries into a global LNG exporter, Reuters reported.
The facility features a 1,600-sq m (17,222-sq ft) indoor test area capable of simultaneously testing three subsea trees and 4,000 sq m (43,056 sq ft) of indoor and outdoor storage.
Subsea cables and umbilicals supplier JDR has teamed up with Proserv Instrumentation Nigeria Ltd. to offer combined subsea solutions and local content support for the West African market, according to a news release.
EnQuest is targeting unit operating costs in the low $20s per barrel (bbl) once Kraken is onstream. It brought costs down 17% in 2016 to $24.60/bbl, Reuters reported.
Eni, the biggest foreign investor in oil and gas in Algeria, held a board meeting at the Bir Rebaa North (BRN) oil field in southeast Algeria on March 17, which it said was a way of showing its commitment to its partnership with Sonatrach.
The French oil major looks to strengthen its portfolio with the Iara and Lapa fields.
Norway's oil and energy ministry must approve the new ownership structure and set gas transportation tariffs that will ultimately impact the profitability of the pipelines and processing system, Reuters reported.
The company said proceeds would support investments in drilling, exploration and appraisal programs offshore Ghana, and more will be invested in Kenya, other parts of Africa and South America, Reuters said.
Energy sector emissions of 32.1 gigatonnes were unchanged from 2015 and 2014 even though the global economy grew by 3.1%, the IEA estimated.
Syncrude Canada notified customers on March 16 that its oil sands plant in northern Alberta would cut production by more than 50% in March and April after a fire this week.
Cobalt International Energy Inc. said March 14 that 2017 capex will be about $275 million, primarily for operated activities at North Platte and non-operated activities at Shenandoah, Anchor and Heidelberg.