GLOBAL OFFSHORE UPDATE

Sweden’s Viking Supply Ships, which is undergoing extensive restructuring, is pushing ahead with a SEK348m ($37.7m) share sale.

Two of the world’s fastest-growing economies have barely noticed the first year of unrestricted U.S. crude exports since the 1970s. In the first year since the U.S. lifted a 40-year-ban on most exports, less than 3% have gone to China and India even as their demand for oil grew. India hasn’t taken a drop, according to U.S. Census data.

Five people were killed after their helicopter crashed into the sea during an offshore rescue operation. The helicopter was sent out to medevac an offshore worker suffering from cardiac arrest on board the Amir Kabir offshore platform shortly before the tragedy unfolded.

When OPEC exempted Nigeria from its plan to cut oil output for the first time in eight years, it highlighted how far Africa’s biggest producer has fallen. From January to October, just over three wells a month were drilled in Nigeria, down from a monthly average of almost 22 in 2006, according to petroleum ministry data. While output rebounded to 2.1 MMbpd from the 27-year low in August, that’s just half the government’s goal at the start of the millennium.

Royal Dutch Shell expects to pump out all the fossil fuel reserves listed on its balance sheet, its chief executive said, dismissing concerns that production limits in the wake of the Paris climate accord could hit the energy giant's valuation. In an interview with Dutch newspaper Het Financieele Dagblad, Ben van Beurden said the issue of "stranded" reserves - deposits in the ground that cannot be used because of carbon emissions limitations - would have no impact on balance sheets.

The CI-GNL (Ivory Coast LNG) consortium led by Total has been awarded the rights to build and operate a liquefied natural gas re-gasification terminal in the Ivory Coast with a capacity of 3 mtpa. The decision was followed by the signature of the shareholders’ agreement in Abidjan between Total, which will operate the project with a 34% interest, PetroCI (11%), CI Energies (5%), SOCAR (26%), Shell (13%), Golar (6%) and Endeavor Energy (5%).

Oil prices were slightly higher on Thursday ahead of next week's meeting of the Organization of the Petroleum Exporting Countries (OPEC) to discuss implementation of its proposed cap on production. Brent crude futures LCOc1 were up 12 cents at $49.07 a barrel at 1501 GMT (10:01 a.m. ET). U.S. West Texas Intermediate (WTI) crude CLc1 rose 9 cents to $48.05.