Plus, Exxon Mobil donates to a PAC promoting U.S. carbon tax, offshore drillers Ensco and Rowan agree to merge and Chevron exits Norway.
Producers in the Gulf of Mexico lost about 1.7 million barrels of oil through Oct. 10 as a result of shut-ins from Hurricane Michael and the figure is expected to rise.
According to a letter obtained by Reuters, Chevron has agreed to transfer its 20% stake in an exploration license in the Arctic, called PL859, to Norway's DNO ASA.
Hess, Shell and Anadarko Petroleum said they were monitoring the storm and would take actions in the Gulf of Mexico as needed.
BP CEO Bob Dudley hailed the deal with Italy's Eni as an important step "towards returning to our work in Libya."
The merger of offshore drillers Ensco and Rowan will result in the world’s largest jackup contractor with a combined enterprise value of $12 billion.
Exxon Mobil is considering selling deepwater assets in the GoM that currently produce about 50,000 barrels per day of oil, unnamed sources told Reuters.
Taking ConocoPhillips' 30% stake would help East Timor position itself to push for the development of Greater Sunrise, discovered in 1974 but development long delayed.
The commercial terms of the agreement, which is subject to customary conditions that include partner and authority approval, were not disclosed.
By offering all four offshore oil blocks, Brazil's cash-strapped government raked in $1.71 billion, days ahead of the most uncertain presidential vote in a generation.