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Update: Market Chatter: BP-Eni JV Approves Offshore Oil Project Development in Angola

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(Updates with Azule Energy's statement in the second paragraph.)

BP (BP) and Eni's (E) joint venture, Azule Energy, approved the development of the Greater PAJ offshore oil project in Angola, Reuters reported Monday, citing comments from company and government officials at a signing ceremony.

"Greater PAJ will contribute to sustaining production, creating value for the country and reinforcing Angola's position as a key energy supplier in the years ahead," Azule Chief Executive Joseph Murphy said in a statement.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $39.73, Change: $+0.63, Percent Change: +1.60%

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