Rovuma basin offshore Mozambique will soon see the first development granted for the region. Eni SPA has reported that the government of Mozambique’s Council of Ministers granted its plan to drill and complete six subsea wells and construct and install a floating LNG facility with a capacity of 3.4 million tonnes/year (OGJ Online, Oct. 16, […]

Private independent FourPoint Energy LLC, Denver, reported signing a definitive agreement to acquire all of Chesapeake Energy Corp.’s remaining western Anadarko basin oil and gas assets for $385 million. Source: News

American Midstream (Alabama Intrastate) LLC (Magnolia Intrastate), a wholly owned subsidiary of American Midstream Partners LP, has begun a nonbinding open season for a proposed 45-mile extension of the Magnolia Intrastate pipeline (Magnolia Extension) to transport as much as 500,000 MMcfd of natural gas beginning in 2019. Source: News

Light, sweet crude oil prices for April delivery fell $1.52 Feb. 23 to close at $31.87/bbl on the New York market and Brent crude oil prices fell $1.42 on the London market to close at $33.27/bbl after Saudi Arabian Oil Minister Ali al-Naimi said no production cuts are likely. Source: News

SP Olefins (Taixing) Co. Ltd., a subsidiary of SP Chemicals Pte. Ltd., Singapore, has let a contract to Technip SA, Paris, to provide technology licensing and process design for the company’s proposed grassroots ethylene plant to be built in Taixing in China’s Jiangsu Province. Source: News

Lucid Energy Group II LLC has secured an initial equity commitment of $350 million from EnCap Flatrock Midstream and Lucid II managers to invest in midstream projects and acquisitions. Source: News

Stone Energy Corp., Lafayette, La., has set an initial 2016 capital expenditure budget of $200 million, compared with capex of $464.5 million in 2015 and $884 million in 2014. Source: News

Sparking fears for the long-term future of the industry, the UK upstream segment is expected to approve fewer than £1 billion in spending on new North Sea projects compared with an average of £8 billion/year over the past 5 years, according to Oil & Gas UK’s 2016 Activity Survey published Feb. 23. Source: News

State-owned Sonatrach has let a $100 million contract to ABB to rebuild and revamp a treatment unit in the LPG plant at Rhourde-Nouss natural gas field in central-eastern Algeria. Source: News

Dana Gas PJSC, Sharjah, reports Zora gas field offshore Sharjah and Ajman has started production with optimization under way to boost flow to a planned 40 MMcfd. Source: News