LNG

The Chief Executive of BP said the UK major would continue producing hydrocarbons in the form of oil and natural gas for pipelines and LNG for many decades to come and would benefit from rising oil prices, reducing investor concerns over the past two years that BP was pandering to environmental extremists who had attacked its London headquarters.

Kosmos Energy, the US shareholder in the floating liquefied natural gas joint venture offshore the West African nations of Mauritania and Senegal, halved its losses in the first quarter and said material progress was made across all the major workstreams of the LNG project centred on the Greater Tortue-Ahmeyim gas fields.