Dril-Quip buys offshore equipment provider OPT for $20M | Offshore Energy Today

Dril-Quip buys offshore equipment provider OPT for $20M Dril-Quip has acquired offshore equipment provider OilPatch Technologies (OPT) for approximately $20 million. Based in Houston, OPT provides offshore riser systems and components, proprietary threaded connections and other products, with a focus on deepwater Spar and TLP Systems. Blake DeBerry, President and Chief Executive Officer of Dril-Quip, stated, “We... Continue Reading →

January 9, 2017 0

Direct Investment Suffers Less With Crisis And Should Add Up To $ 70 Billion

Despite the sharp drop in investment and Gross Domestic Product (GDP) in the last two years, an indicator of the Brazilian economy remained surprisingly strong. Direct Investment in the Country totaled US $ 75 billion in 2015 and accumulated, in the 12 months ended November 2016, US $ 78.8 billion, according to data from... Continue Reading →

January 9, 2017 0

Bribery Case Haunts Odebrecht Despite Massive Settlement

The construction giant, which agreed to pay as much as $4.5 billion to settle international bribery charges, finds it is banned from bidding on public works projects in a growing number of countries. See attached article bribery-case-haunts-odebrecht-despite-massive-settlement

January 6, 2017 0

UPDATE 1-Brazil’s Petrobras raises diesel prices by an average 6.1 pct

Brazilian state-controlled oil company Petróleo Brasileiro SA increased diesel prices at refineries by 6.1 percent on average with immediate effect, citing higher oil prices and a stronger real currency. According to a Thursday statement, the decision also stemmed from stronger seasonal demand for diesel as winter peaked in the northern hemisphere. For years, Petrobras kept... Continue Reading →

January 6, 2017 0

Clarification on News: Information on the Comperj Project

Rio de Janeiro, January 4, 2017 – Petróleo Brasileiro S.A. – Petrobras responds to Official Letter no. 1/2017/CVM/SEP/GEA-1 which requests clarifications, as follows: Official Letter no. 1/2017/CVM/SEP/GEA-1 “Dear Sir, We refer to the news published on January 1, 2017, in the newspaper O Estado de São Paulo, Primeiro Caderno section [First Section], under the headline... Continue Reading →

January 6, 2017 0

Stricter due diligence may slow Brazil’s M&A deals this year

Stricter legal and regulatory scrutiny may slow mergers and acquisitions in Brazil this year, compounding the impact of a harsh recession and lingering political turmoil that is keeping buyers and sellers at odds over valuations, bankers and lawyers said. In recent months, trade unions and citizen advocacy groups have increased pressure on industry watchdogs and... Continue Reading →

January 6, 2017 0

BW Offshore in insurance settlement for FPSO damaged in 2015 explosion

FPSO operator BW Offshore has signed an agreement with its insurers for an early repair cost settlement for the FPSO Cidade de São Mateus damaged in an explosion in 2015, which killed nine workers. At the time of the incident, the FPSO was operating for the Brazilian oil company Petrobras on the Camarupim and... Continue Reading →

January 5, 2017 0

Closing of Petrobras Chile sale

January 4, 2017 – Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on July 22, 2016, informs that it has completed, today, the sale of 100% of Petrobras Chile Distribuición Ltda (“PCD”) to the Southern Cross Group. The cash proceeds of the transaction were US$ 470 million, of which US$ 90 million... Continue Reading →

January 4, 2017 0

Petrobras and Repsol Sinopec return concession of the Piracucá field

Publication in the Federal Official Gazette indicates the return by Petrobras and Repsol Sinopec do Brasil of the oil and natural gas exploration and production concession for the Piracucá field. The field, located in shallow waters of the Santos Basin, was acquired by the companies in the second round of ANP bids in 2000,... Continue Reading →

January 4, 2017 0

PetroRio announces agreement to buy additional slice at Brasoil

PetroRio announced an agreement to acquire an additional interest of approximately 29.21 percent in Brasoil do Brasil Exploração Petrolífera, according to a press release. With the stake acquired from the Brascan Petroleum, Gas and Energy Fund, PetroRio will now hold a total stake in Brasoil of 52.40 percent. On March 21, PetroRio had announced... Continue Reading →

January 4, 2017 0