LNG

Kosmos Energy, the Dallas-based oil and gas exploration and production company with assets in the Gulf of Mexico and West Africa, has posted solid earnings and plans a new LNG export project from the Yakaar-Teranga gas fields offshore Senegal in addition to the ongoing FLNG ventures based on the Greater Tortue Ahmeyim resources shared between Senegal and Mauritania.

UK major BP posted solid results even amid cash flow declines on lower prices with an exceptional gas marketing and trading result, a lower level of refinery turnarounds and very strong oil trading earnings while progress with made on LNG and gas projects in Africa, India and the East Mediterranean.

UK major BP has agreed to acquire Archaea Energy of Houston in Texas for $4.1 billion, comprising $3.3Bln in cash as well as around $800 million of net debt, to increase its presence in the bio-natural gas fuel sector.

UK major BP, one of the leading LNG producers with two current world-class LNG production projects in Alaska and Mauritania-Senegal and volumes booked from the US Gulf Coast and nations such as Mozambique confirmed that Chief Executive Bob Dudley was stepping down after a 40-year career with the UK major and nine years as CEO.

TechnipFMC, the energy and liquefied natural gas engineering company, reported a plunge in first-quarter profits and revenues also fell as it finished off the Yamal LNG project in Russia and was at the start of other ventures such as floating LNG work offshore West Africa.

Kosmos Energy, a main partner in the BP-led floating liquefied natural gas projects offshore Senegal and Mauritania in West Africa, has announced key management changes as its FLNG proposals move forward.