Newly-formed oil and gas services firm TechnipFMC reported Thursday a $190.8 million net profit in its first quarter following the merger between the French oilfield services provider Technip and the U.S. company FMC Technologies. Announced last year, the merger between two giants was completed in January. The company reported first quarter 2017 revenues of $3.4 billion, versus $2.4 billion... Continue Reading →
Total’s 1Q income soars
French oil major Total posted a hefty increase in its adjusted net income for the first quarter of 2017, when compared to the first quarter of 2016. Presenting its results on Thursday, Total said its 1Q adjusted net income was $2.6 billion, a 56 percent increase compared to $1.6 billion a year ago. Read more
SCHLUMBERGER TO PROVIDE LIBRA FIELD SOFTWARE
April 26, 2017 Schlumberger has won a major contract in Brazil and will provide software for exploration and production in the Libra field, as well as related services. The agreement with the consortium of Libra, formed by Petrobras, Royal Dutch Shell, Total, CNOOC and CNPC, will last five years. The contract includes the supply of... Continue Reading →
ANP wants to attract funds for rounds of oil and gas areas in Brazil
The National Petroleum, Natural Gas and Biofuels Agency (ANP) is considering improving the contracts for the three large rounds of oil and gas exploration blocks planned for this year, in order to attract investors different from those currently found in the country, such as Investment Funds. "We want to reduce the obstacles for investment funds... Continue Reading →
Petrobras – Annual Report on Form 20F – 2016 filed
Rio de Janeiro, April 27, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that it filed its Annual Report on Form 20F for the fiscal year ended December 31, 2016 (the “2016 Annual Report”). The Form 20F is an U.S. Securities and Exchange Commission (SEC) reporting requirement and should be presented annually by all foreign... Continue Reading →
Petrobras – 1st Quarter 2017 Results Release Date
Rio de Janeiro, April 26, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it will release its 1st quarter 2017 results on May 11, after the market is closed. Therefore, between April 27th and May 11th, the Company will be in quiet period, during which Petrobras will not be able to comment or provide... Continue Reading →
Brazil lawmakers pass labor bill in bittersweet victory for Temer
Brazil's lower house of Congress on Wednesday approved the main text of a bill to relax the country's restrictive labor laws, a main plank of President Michel Temer's efforts to bolster investment and pull the economy out of its worst recession ever. The measure passed by 296-177 in an expected victory to Temer who is... Continue Reading →
ExxonMobil takes TechnipFMC’s subsea equipment for Liza
Oilfield services provider TechnipFMC has been awarded a contract by ExxonMobil for the engineering, manufacture, and delivery of subsea equipment for the proposed Liza deepwater project, off Guyana. TechnipFMC said on Tuesday that the award scope includes seventeen total enhanced vertical deepwater trees and associated tooling, as well as five manifolds and associated controls and... Continue Reading →
Brazil Political Risk Slows M&A, Speeds Up Debt and Equity Deals
Political fallout from Brazil’s ever-widening corruption scandals is weighing on the investment-banking business: Mergers and acquisitions are slowing down and issuers are speeding up stock and bond deals to avoid the impact of the 2018 presidential election. “Election years can be volatile for markets and this coming year will be particularly so,” said Jose Olympio... Continue Reading →
Exclusive: Brazil eyes OECD membership to woo investors after recession
Brazil could decide to join the Organisation for Economic Co-operation and Development (OECD) as soon as next month, officials told Reuters, as President Michel Temer seeks its seal of approval for reforms to Latin America's largest economy. Temer's intention to join the Paris-based think tank is his latest effort to strengthen ties with Western developed... Continue Reading →
Brazil Energy Insight 