I strongly welcome the proposed compacts between African and G20 countries to build capacity and unlock investment flows. All five countries in the first wave have Fund-supported arrangements. We will work closely with the authorities to strengthen their macroeconomic frameworks and will step up the provision of technical assistance.

In this difficult environment, the Group demonstrated its resilience by generating adjusted net income of $8.3 billion and had the highest profitability among the majors due to the strength of its integrated model and commitment of its teams to reduce the breakeven.

Nabors Industries Ltd. ("Nabors") (NYSE: NBR) reported full-year 2016 operating revenue of $2.2 billion, compared to operating revenue of $3.9 billion in the prior year, which included $366 million in revenue from the Completion and Production Services segment (NCPS), a business line that merged with C&J Energy Services, Inc. (CJES) on March 24, 2015 and ceased to be consolidated with Nabors on that date. Net income from continuing operations for the year was a loss of $1.0 billion, or $3.58 per share, compared to a loss of $330 million, or $1.14 per share, in FY 2015. Included in the net loss from continuing operations for full year 2016 were total after-tax impairments and other charges of $487 million, or $1.71 per share, as well as $0.80 per share in Nabors' proportional share of CJES' net loss for the period. This compares to prior year impairments and other charges of $380 million, or $1.31 per share, and $0.29 per diluted share for the company's proportional share of CJES' net loss.

NYT - David Rockefeller, the banker and philanthropist with the fabled family name who controlled Chase Manhattan bank for more than a decade and wielded vast influence around the world for even longer as he spread the gospel of American capitalism, died on Monday morning at his home in Pocantico Hills, N.Y. He was 101.

In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 3/4 to 1 percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2 percent inflation.

TESCO reported a U.S. GAAP net loss of $20.1 million, or $(0.43) per diluted share, for the fourth quarter ended December 31, 2016. Adjusted net loss for the quarter was $13.3 million, or $(0.28) per share, excluding special items, consisting primarily of several charges related to receivables and restructuring costs. This compares to a U.S. GAAP net loss of $22.1 million, or $(0.48) per diluted share in the third quarter of 2016, and a U.S. GAAP net loss of $78.1 million, or $(2.00) per diluted share, for the fourth quarter of 2015. Adjusted net loss in the third quarter of 2016 was $17.3 million, or $(0.37) per diluted share, and in the fourth quarter of 2015 was $13.4 million, or $(0.33) per diluted share.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $48.5 billion in January, up $4.2 billion from $44.3 billion in December, revised. January exports were $192.1 billion, $1.1 billion more than December exports. January imports were $240.6 billion, $5.3 billion more than December imports.

The Norwegian economy is slowly picking up after a two-year slowdown in its top industry, oil production, due to a halving of crude prices since mid-2014. In recent months, crude prices have risen and stabilised at around $55 per barrel.

Royal Dutch Shell plc ("Shell") today announces the signing of binding definitive agreements between SOPC Holdings East LLC (a U.S. downstream subsidiary of Shell) and Saudi Refining Inc. ("SRI") (a wholly owned subsidiary of Saudi Arabian Oil Company (“Saudi Aramco”)) on the separation of assets, liabilities and businesses of Motiva Enterprises LLC (“Motiva”), a 50/50 refining and marketing joint venture.

In the fourth quarter of 2016, Eni reported an adjusted operating profit of €1.29 billion, up by 103% or €0.65 billion quarter-on-quarter, reversing the negative trend of the previous quarters, thanks to doubling in the E&P operating performance to €1.4 billion (up by €0.8 billion).

Real gross domestic product (GDP) increased at an annual rate of 1.9 percent in the fourth quarter of 2016. In the third quarter, real GDP increased 3.5 percent.

Highlights • Revenue of $667 million • Operating income of $118 million • EBITDA of $354 million • 99% economic utilization • Reported net income of $127 million and diluted net income per share of $0.26 • Underlying net income, excluding non-recurring items and non-cash mark to market movements on derivatives, was $111 million and earnings per share was $0.24 • Cash and cash equivalents of $1.4 billion • Seadrill Limited order backlog of approximately $2.5 billion

Profit attributable to NOVATEK shareholders increased by more than three-fold to RR 257.8 billion (RR 85.41 per share), as compared to RR 74.4 billion (RR 24.63 per share) in 2015. The amount of profit and its dynamics were significantly impacted by the foreign exchange effect (including at the joint ventures level), as well as the effect of the disposals of interests in joint ventures.

The executives predicted slower growth as “they forecast oil prices to take a long time to rebound to US$70 per barrel,” the point at which prices started to plunge two years ago, said Wu Yi, DNV’s business development manager for China, South Korea and Japan.

Maersk delivered an unsatisfactory loss of USD 1.9bn (profit of USD 925m) negatively impacted by post-tax impairments of USD 2.8bn (USD 2.6bn) primarily relating to Maersk Drilling of USD 1.4bn (USD 27m) and Maersk Supply Service of USD 1.2bn (USD 0m). In line with the latest guidance provided in November, the under lying profit came at USD 711m (USD 3.1bn). The return on invested capital (ROIC) was negative 2.7% (positive 2.9%). The free cash flow was negative USD 29m (positive USD 6.6bn including the sale of shares in Danske Bank of USD 4.9bn).