Full-year 2016 revenue of $27.8 billion decreased 22% year-on-year, despite three quarters of activity from the Cameron Group that contributed $4.2 billion in revenue. Excluding Cameron, consolidated revenue declined 34%.

The Georgian government has agreed with Gazprom proposals over gas transits via Georgia's territory and will sign a deal for 2017 and 2018, its energy minister Kakha Kaladze told reporters in Tbilisi. Gazprom Export will now pay a transit fee in cash, rather than in the form of gas supplies, as in the past.

Indian state-run oil refiners have called for Nigeria to increase its total term contract volumes next year by more than 20% as demand from the South Asian country climbs, an official from Nigeria's state-owned Nigerian National Petroleum Corporation said.

“Security and access to funding are the biggest challenges right now to private sector players,” says Kola Karim, managing director of domestic producer Shoreline Energy. “The situation is really tough.”

Nigeria, which was Africa's largest oil producer until a few months ago, slipped into recession after its economy shrank by 2.06% in Q2, as the impact of militant attacks on oil facilities weighed on the country's economy.

Nigeria reached a $5.1 billion settlement to reimburse foreign oil companies including Exxon Mobil Corp. and Royal Dutch Shell Plc for past operating costs.

Nigeria aims to increase its crude oil output to 2.8 million b/d by 2019 and to 3 million b/d by 2020 from the current average of 2 million b/d, according to a short term policy document produced by the country's oil ministry.

Gazprom’s supplies to the German market continued to grow, rising 23 per cent this September and 20.4 per cent this October versus the corresponding months of 2015.

- Combination creates an unparalleled company positioned to deliver value for customers and investors - GE to own 62.5% and Baker Hughes shareholders to own 37.5% of the “New” Baker Hughes - GE to contribute $7.4 billion to fund the $17.50 per share special dividend to existing Baker Hughes shareholders

"We have built capacity of up to 2.4 million b/d, but [we are] currently producing about 1.9 million b/d," Omar Farouk, the special adviser on international energy relations to Nigeria's oil minister of state, said on the ministry's twitter handle.