Rio de Janeiro, October 23, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 9/5/2017, informs the start of the non-binding phase regarding the sale process of 90% of its stake in Transportadora Associada de Gás S.A. ("TAG"), a wholly-owned Petrobras subsidiary. At this stage of the project, the descriptive... Continue Reading →
Saetre to remain CEO of Statoil after he turns 62
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
Aker Solutions to deliver largest umbilical system ever. Client unknown
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 →
Baker Hughes books loss in first report following GE merger
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 records profit and revenues boost in third quarter
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 $176 million profit recorded in the same period of 2016. Read more
Decree excludes equity stakes held by Petrobras from PND
Rio de Janeiro, October 20, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that Decree no. 9,173, of 10/18/2017, has been issued, excluding the minority equity stakes held by Petrobras in Deten Química S.A. and Braskem S.A. from the National Privatization Program (Programa Nacional de Desestatização, PND), as published in the Official Federal Gazette yesterday.... Continue Reading →
Brazil’s Temer says pension reform might not pass this year
President Michel Temer said on Friday that a bill overhauling Brazil’s costly pension system might not clear Congress this year as planned, the first time that he has indicated that such a delay might happen. Read more
TechnipFMC snaps up Plexus’ wellhead business for jack-up applications
Oil and gas services company TechnipFMC has reached an agreement with Plexus Holdings to acquire Plexus’ Wellhead exploration equipment and services business for jack-up applications. Plexus Holdings is a UK-based oil and gas engineering services business and owner of the proprietary POS-GRIP friction-grip method of wellhead engineering, TechnipFMC explained on Thursday that the acquisition of Plexus’... Continue Reading →
Petrobras – Favorable decision by CARF concerning the deductibility of production development expenditures for purposes of IRPJ and CSLL assessment
Rio de Janeiro, October 19, 2017 – Petróleo Brasileiro S.A. - Petrobras informs that the Administrative Board of Tax Appeals (CARF) issued yesterday a decision, unanimously, in favor of the company, in an fiscal administrative proceeding in the amount of R$ 7.8 billion, related to the moment of deductibility of expenses incurred by Petrobras in... Continue Reading →
Petrobras – Contracting of FPSO for Sepia field
Rio de Janeiro, October 19, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that on October 13, 2017 it signed a contract with Modec Group to charter a FPSO platform (a unit that produces, stores and transfers oil and gas) to be used in the Sepia field development project, derived from the Transfer of Rights... Continue Reading →
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