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 →

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

The Delta House floating production facility about 40 miles (64 kilometers) southeast of Venice, Louisiana, released 7,950 to 9,350 barrels of oil from early Wednesday to Thursday morning, according to closely held operator LLOG Exploration Co. That would make it the largest spill in more than seven years, data from the U.S. Bureau of Safety and Environmental Enforcement... Continue Reading →

According to the Wall Street Journal (WSJ), Baker Hughes, a GE company, has held talks to acquire subsea services contractor Subsea 7. The WSJ cited people close to the matter which claimed that negotiations broke down over valuation. Even though initial negotiations broke off, one of WSJ’s sources stated that Baker Hughes and Subsea 7... Continue Reading →

Brazil’s federal audit court on Wednesday ordered a freeze of former President Dilma Rousseff’s assets as well as those of José Sérgio Gabrielli, ex-head of state-run oil company Petrobras, over a $580 million loss in the 2006 purchase of a Texas refinery. Read more

BRASILIA (Reuters) - A Brazilian congressional report recommended on Tuesday that President Michel Temer should not face trial for obstruction of justice and membership in a criminal organization, arguing that the charges against him were unfounded. Read more

President of Peru has presided over the signing of exploration and production deals with Anadarko Petroleum for exploration activities offshore Peru. In a statement on Monday, the Ministry of Energy and Mines said that the President of Peru, Pedro Pablo Kuczynski, presided over the signing of exploration and production contracts for three offshore blocks with Anadarko.... Continue Reading →

There has been a lot of talk about decommissioning during the Offshore Energy Exhibition and Conference in Amsterdam this week. The national decommissioning platform of the Netherlands was launched, there was also a separate decommissioning session, CEO of UK’s Decom North Sea attended. What we could hear over there is that offshore decommissioning is set... Continue Reading →

Oilfield services company Wood Group has completed the acquisition of compatriot Amec Foster Wheeler. The closing of the acquisition follows clearances by the UK competition watchdog, the Mexican anti-trust commission in September, and a nod by the High Court of Justice in England and Wales last week. Read more

SAO PAULO (Reuters) - The Brazilian government is seeking 40 billion reais ($12.7 billion) from construction and engineering conglomerate Andrade Gutierrez SA to settle claims related to its participation in a graft scheme, newspaper O Globo reported on Sunday. Citing calculations from members of the Office of the Attorney General and the Office of the... Continue Reading →