The commissioner of Papua New Guinea's ICCC said he was concerned the parties were not coming to the ICCC for regulatory approvals. The merger would assemble a LNG powerhouse in the country.

With permission to carry out fracking, Third Energy will now be able to test how much shale gas it could eventually produce from its site at Kirby Misperton, Reuters reported.

More than 79,000 inactive Alberta wells could become Orphan Well Association’s responsibility due to May 18 ruling giving lenders priority over environmental cleanup costs in oil and gas bankruptcies, Reuters reported.

Leviathan, one of the largest offshore discoveries of the past decade, was found in the eastern Mediterranean in 2010 and has been mostly earmarked for exports.

Last year, government pledged cutting emissions by at least 40% by 2030 from 1990 levels as part of U.N. agreement on climate change reached in Paris in December, Reuters reported.

Under the program, the government will compensate producers launching new natural gas projects for the difference between what they receive in the market and $7.5 per million British thermal units.

Finance Minister Yuval Steinitz said the new agreement, which will be brought to the government for final approval soon, gives the state more leeway to change policies if needed, Reuters reported.

Norway is hoping the new areas will help boost a sector that has been shedding projects, costs and jobs due to a 57 percent decline in crude prices since mid-2014.

Marlim, Brazil's fifth-most productive field in March, produces about 150,000 barrels of oil a day and about 2 million cubic meters per day (70.8 million cubic feet per day), Reuters reported.

On May 16, BSEE said that production remains shut-in from the two subsea fields that flow to the Brutus Platform, and that it will not approve their restart until all safety concerns and applicable regulations have been met.

Privately-owned Standard Newspaper quoted the Energy and Petroleum ministry as saying it aimed to hold an auction for the new blocks in 2017.

​An investigation into the cause of a fatal North Sea helicopter crash is focusing on the parts of the aircraft that connected the rotor blades to the main body of the helicopter, investigators said May 13.