Oilfield services provider Baker Hughes, a GE company (BHGE), posted a loss for the third quarter 2017 despite seeing an increase in orders. This is BHGE’s first quarterly report following the closure of the previously announced combination of Baker Hughes with General Electric’s oil & gas business, GE Oil & Gas, on July 3, 2017. According to... Continue Reading →
Schlumberger records profit and revenues boost in third quarter
Schlumberger, the world’s largest oilfield services provider, saw an increase in profit and revenues during the third quarter of 2017 compared to the prior-year period. The company on Friday posted a profit of $545 million for the third quarter of this year, compared to a $176 million profit recorded in the same period of 2016. Read more
Decree excludes equity stakes held by Petrobras from PND
Rio de Janeiro, October 20, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that Decree no. 9,173, of 10/18/2017, has been issued, excluding the minority equity stakes held by Petrobras in Deten Química S.A. and Braskem S.A. from the National Privatization Program (Programa Nacional de Desestatização, PND), as published in the Official Federal Gazette yesterday.... Continue Reading →
Brazil’s Temer says pension reform might not pass this year
President Michel Temer said on Friday that a bill overhauling Brazil’s costly pension system might not clear Congress this year as planned, the first time that he has indicated that such a delay might happen. Read more
TechnipFMC snaps up Plexus’ wellhead business for jack-up applications
Oil and gas services company TechnipFMC has reached an agreement with Plexus Holdings to acquire Plexus’ Wellhead exploration equipment and services business for jack-up applications. Plexus Holdings is a UK-based oil and gas engineering services business and owner of the proprietary POS-GRIP friction-grip method of wellhead engineering, TechnipFMC explained on Thursday that the acquisition of Plexus’... Continue Reading →
Petrobras – Favorable decision by CARF concerning the deductibility of production development expenditures for purposes of IRPJ and CSLL assessment
Rio de Janeiro, October 19, 2017 – Petróleo Brasileiro S.A. - Petrobras informs that the Administrative Board of Tax Appeals (CARF) issued yesterday a decision, unanimously, in favor of the company, in an fiscal administrative proceeding in the amount of R$ 7.8 billion, related to the moment of deductibility of expenses incurred by Petrobras in... Continue Reading →
Petrobras – Contracting of FPSO for Sepia field
Rio de Janeiro, October 19, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that on October 13, 2017 it signed a contract with Modec Group to charter a FPSO platform (a unit that produces, stores and transfers oil and gas) to be used in the Sepia field development project, derived from the Transfer of Rights... Continue Reading →
ANP may reopen bid deadline for blocks that do not receive bids
Thursday, October 19, 2017, 08:51 The ANP may reopen the deadline for the submission of bids for the blocks of the 2nd and 3rd Pre-Salt Production Sharing Rounds that have not received bids during the bidding rounds. The new deadline will be given after the completion of each round.
Repetro approved in committee
October 19, 2017 After two meetings on the 18th , the joint House committee approved Provisional Measure 795 which extends until 2040 the tax benefits granted to industry by Repetro. The Measure will now be voted in the House and Senate plenaries. The expectation is that the new tax regime will be approved in... Continue Reading →
Brazil’s Temer escapes corruption charges in committee vote
A congressional committee voted 39-26 on Wednesday to reject charges against Brazilian President Michel Temer stemming from a corruption case involving the world’s largest meatpacker. Read more
Brazil Energy Insight 