The leader of Statoil’s efficiency programme has taken over the role of chief operating officer at Norway’s state-controlled oil company. Steve Marshall 4 Nov 2016 12:27 GMT Updated 4 Nov 2016 12:36 GMT Jannicke Nilsson, who heads the so-called Step (Statoil technical efficiency programme) initiative, will replace present incumbent Anders Opedal who has been appointed... Continue Reading →
Petrobras -Stage of negotiations with Alpek on the sale of Petroquímica Suape and Citepe
Rio de Janeiro, November 3, 2016 – Petróleo Brasileiro S.A. – Petrobras, in continuation of the relevant facts disclosed on 07/28/2016 and 09/27/2016, informs that the negotiation with Alpek to sell its participation in Companhia Petroquímica de Pernambuco (PetroquímicaSuape) and Companhia Integrada Têxtil de Pernambuco (Citepe) has advanced in good terms. Once the steps provided... Continue Reading →
Ex-Brazilian finance minister to stand trial in Petrobras graft case
By Brad Brooks | SAO PAULO A former Brazilian finance minister and chief of staff for successive Workers Party (PT) governments was ordered on Thursday to stand trial on corruption and money laundering charges in an expanding graft probe around state-run oil company Petrobras. Anti-corruption Judge Sergio Moro ruled that prosecutors had presented sufficient evidence... Continue Reading →
Brazil’s Petrobras seeks to end Schahin contract
Brazil's state-run oil company Petrobras is seeking to stop renting a drillship from engineering conglomerate Grupo Schahin, in a potential blow to Schahin's restructuring plan, newspaper Folha de S. Paulo reported on Tuesday. Petroleo Brasileiro SA, as Petrobras is formally known, has already notified Schahin about the potential rescission, Folha said, citing unidentified sources. Vitoria... Continue Reading →
Baker Hughes Offers GE Chance to Unlock Tech in Dusty Oil Fields
It wasn’t the dusty old oilfield machinery that drew General Electric Co. to make its play for Baker Hughes Inc. It was the chance to digitize. As today’s oil patch is increasingly stocked with underwater robots, remote sensors and electronic underground pumps that help lift crude in sagging wells, the world’s biggest oil service companies... Continue Reading →
BP Profit Slides on Weaker Refining, Oil-Production Loss
BP Plc reported a 49 percent decline in third-quarter earnings after crude prices fell, refining margins shrank and its exploration and production division posted a loss. Shares fell. Profit adjusted for one-time items and inventory changes dropped to $933 million from $1.8 billion a year earlier, the London-based company said Tuesday in a statement. That... Continue Reading →
Shell Smashes Estimates as BG Acquisition Drives Up Output
Royal Dutch Shell Plc reported third-quarter profit that beat analyst estimates after its acquisition of BG Group Plc boosted oil production, helping to counter a slump in prices. The shares rose. Profit adjusted for one-time items and inventory changes advanced 17 percent from a year earlier to $2.79 billion, Shell said Tuesday. That exceeded the $1.79... Continue Reading →
Petrobras secures gas contracts in sale of NTS to Brookfield
Oct 31 Petróleo Brasileiro SA has secured 20-year contracts for the transport of natural gas through Nova Transportadora do Sudeste SA, which the Brazilian state-controlled oil company recently sold to Brookfield Asset Management Inc for $5.19 billion. In a Monday securities filing, Petrobras, as the company is known, said Brookfield will pay $4.34 billion... Continue Reading →
GE Deal With Baker Hughes Creates $32 Billion Oil-Services Giant
General Electric Co. agreed to combine its oil and gas business with Baker Hughes Inc., creating an industry giant with a broader suite of offerings amid the ongoing slump in crude prices. GE will own a 62.5 percent stake in the combined provider of oilfield services, which will be publicly traded and have $32 billion in... Continue Reading →
GE, Baker Hughes Partnership Would Raise Oilfield Clout for Both
Combining General Electric Co. and Baker Hughes Inc.’s oil businesses into partnerships could create a player capable of competing with the industry’s biggest -- and may not require a huge amount of money. The industrial-equipment behemoth and the No. 3 oil services provider say that discussions are taking place for potential "partnerships," but wouldn’t provide... Continue Reading →
Brazil Energy Insight 