Exxon said in September the that U.S. Securities & Exchange Commission is the right agency to vet how it books reserves and that it complies with accounting and securities laws, Reuters reported. 

A spokesman for Statoil said that the company had found no evidence that cost cutting caused its recent problems, but it would continue to look into the matter.

The 1987 Montreal Protocol succeeded in phasing out the use of chlorofluorocarbons (CFCs), widely used at that time in refrigeration and aerosols, Reuters reported.

Petrobras bought the rights, known in Portuguese as the "Cessão Onerosa," for more than $50 billion as part of a more than $70 billion stock sale in 2010, Reuters reported.

Another FMC Technologies department also failed to properly account for employee paid time off in 2012, the SEC said. The company also improperly accounted for interest income associated with certain large loans made within the company that year, Reuters reported.

Norway, which already produces oil and gas from offshore Arctic fields, aims to cut emissions by at least 40% below 1990 levels by 2030 under the Paris Agreement, Reuters reported.

According to the report, the public and private sector funds would be up from an estimated $62 billion in 2014 and $52 billion in 2013, Reuters said.

Activities assessed in the draft rules include deep-penetration and high-resolution seismic, electromagnetic, magnetic, gravity and remote-sensing surveys as well as geological and geochemical sampling.

Nobody was injured in the incidents. Production at Gullfaks A restarted late on Oct. 16, Statoil said. It was unclear when production at Statfjord A would resume, Reuters reported.

President Michel Temer's administration has taken actions including removing a requirement that Petrobras be the sole operator of vast offshore reserves in the costly subsalt layer, Reuters reported. 

OPEC’s third largest oil producer hopes to revive its energy sector following the lifting of the sanctions in January after years of under investment and to achieve production levels last seen in 2012.

One of Africa’s poorest countries, Madagascar hopes to accelerate economic growth by developing natural resources, but has struggled to attract foreign investors due to political instability and falling commodity prices.