Brazil’s oil and gas agency ANP has defined the criteria for winning blocks in the 2nd and 3rd Pre-Salt Bidding Rounds set to be held on Friday in Rio de Janeiro. The two rounds will offer blocks for exploration and production of oil and natural gas, on a production sharing basis. According to the ANP,... Continue Reading →

Brazil is positioning itself as a global biofuels ambassador, fighting climate change by spurring demand for ethanol. It will be a tough sell in a world awash with cheap oil. Brazil is one of the leaders of the Biofuture Platform, a group of 20 nations that also includes the U.S., China and France. The organization was formed... Continue Reading →

Fracking isn’t looking so great for the world’s biggest fracker, but the CEO of Halliburton Co. says he can pull some levers to improve profits. After lackluster margins for the company’s main business sent shares tumbling, casting a cloud over third-quarter earnings that otherwise beat estimates, Chief Executive Officer Jeff Miller said there are three things he... Continue Reading →

Eldar Sætre, CEO of the Norwegian oil company Statoil, will continue as CEO after he turns 62 in February 2018, and will not use his contractual right to retire at the age of 62. Read more

Norway’s Aker Solutions has won an order valued at more than NOK 1.6 billion to deliver the largest umbilicals system ever. The contract entails delivery of 250 kilometers of steel-tube umbilicals linking a subsea development to an existing offshore platform. “We are honored to have been selected to work on this project, which is groundbreaking... Continue Reading →

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, 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

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

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 →

  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 →