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 →
ANP may reopen bid deadline for blocks that do not receive bids
Thursday, October 19, 2017, 08:51 The ANP may reopen the deadline for the submission of bids for the blocks of the 2nd and 3rd Pre-Salt Production Sharing Rounds that have not received bids during the bidding rounds. The new deadline will be given after the completion of each round.
Repetro approved in committee
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 →
Brazil’s Temer escapes corruption charges in committee vote
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
FairfieldNodal sets sail for deeper waters to acquire data for Libra consortium
SUGAR LAND, Texas -- FairfieldNodal’s project to acquire and process high-resolution 3D marine seismic for the Libra consortium has left port for deeper waters to begin work. This consortium is led by Petrobras, and includes Total SA, Royal Dutch Shell Plc, China National Petroleum Corp and CNOOC. The Libra project, FairfieldNodal’s first such project offshore... Continue Reading →
Petrobras – Oil and natural gas production in September
Rio de Janeiro, October 18, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in September was 2.79 million barrels of oil equivalent per day (boed), with 2.68 million boed produced in Brazil and 106 thousand boed produced abroad. The average oil production in the country was 2.17... Continue Reading →
Sins of Past to Haunt Petrobras Worker Paychecks 18 Years Into Future
The sins of the past are about to follow 80,000 active and retired Petrobras workers 18 years into the future. That’s the time frame for a plan, nearing approval, that will trim their monthly paychecks by as much as 40 percent to keep their private pension fund solvent. The cutbacks proposed by Petroleo Brasileiro SA target a... Continue Reading →
