Lead stories: ExxonMobil sanctions first phase of the giant Liza development offshore Guyana. Macro: Brent slips below US$48/bbl; tight oil specialists sold off in an overall flat week for oil and gas shares. Companies: BP approves incremental Indian gas development to top the ranking on post 2014 FIDs; PNG LNG partners get appraisal boost. Exploration: interest is high in Mexico’s latest licensing round – who are the main bidders? Other: Russian energy export pipelines targeted in proposed new US sanctions.