Brazil’s byzantine tax system is in for an overhaul, as Congress begins debating a bill to tackle what many investors consider one of the biggest obstacles to doing business in Latin America’s largest nation. On Tuesday a congressional committee began analyzing a constitutional amendment that aims to simplify how people and companies pay taxes, consolidating... Continue Reading →

John Watson, who has led Chevron Corp. since 2010, is planning to step down as the oil major seeks a new chief executive officer, the Wall Street Journal said, citing people familiar with the matter. While the San Ramon, California-based producer has not made a final decision on a successor, Michael Wirth, a 56-year-old Chevron... Continue Reading →

Oilfield services firm Wood Group reported an 86 percent drop in its profit for the first half of the year, citing, among other factors, weak contribution from the North Sea activity. The UK-based company posted a profit of $6 million, down from $45 million in the first half of 2016.  Profit for the period was... Continue Reading →

 Brazil on Monday floated a proposal to cede control of the country's biggest power utility, Eletrobras, in the boldest privatization yet by a government struggling to close a record budget deficit, sending Eletrobras' shares soaring in after-market trading. The Mining and Energy Ministry gave Centrais Elétricas Brasileiras SA, the holding company known as Eletrobras, notice... Continue Reading →

Offshore drillers Ensco and Atwood Oceanics, which recently agreed to merge, on Friday filed definitive proxy materials with the U.S. Securities and Exchange Commission regarding the deal. To remind, subject to certain conditions, including approval from both sets of shareholders, Ensco will acquire Atwood in an all-stock transaction. In a statement on Friday, Ensco and... Continue Reading →

Greenpeace UK activists are staging a protest in front of the UK headquarters of the oil giant BP, protesting against the company’s plans to drill near a coral reef offshore Brazil. The protesters were carrying signs which read “BP, back off the Amazon Reef” and  tropical fish and jellyfish shaped inflatables, depicting the marine life... Continue Reading →

  08/18/2017 The acquisition of offshore inspection technology expanded Oil States 'technical capacity in this field of activity, adding value and reducing operational costs related to drilling risers' logistics. With the use of advanced non-destructive techniques, international certifications and state-of-the-art equipment for both inspection and data recording, Oil States is able to provide high resolution... Continue Reading →

Now that its oil and gas unit has been sold, A.P. Moller-Maersk A/S is planning separate divestments for the three remaining bits of what used to be a combined energy division, with estimates valuing those businesses at $7.5 billion in total. The owner of the world’s biggest container shipping line said on Monday it agreed to sell its oil and... Continue Reading →