Rio de Janeiro, August 23, 2017 – Petróleo Brasileiro SA – Petrobras informs that on August 18, 2017, the Provisional Measure No. 795 was published for the oil and gas industry, in addition to Decree No. 9.128, which extended the special customs regimen for the export and import of goods intended for research activities and... Continue Reading →
With the Topsides 4.0 tool Siemens launches FPSO scanning solution
Claudio Makarovsky, Siemens Yesterday, on O & G TechWeek, which will take place from August 21 to 25 at the Tomorrow's Museum in Rio de Janeiro, Siemens introduced Topsides 4.0, a set of solutions for scanning Floating Production, Storage and Transfer Units (FPSOs). According to Claudio Makarovsky, head of the Siemens Oil & Gas lineup,... Continue Reading →
Brazil Tackles Nightmarish Tax System to Boost Businesses
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 →
Chevron CEO Watson Plans to Step Down, WSJ Reports
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 →
Wood Group profit falls 86 pct on low North Sea activity and exceptional costs
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 →
Brazilian Prosecutors Charge Former Petrobas CEO With Corruption
Aldemir Bendine, who ran the state-run oil giant and Banco do Brasil, is accused of receiving bribes Aldemir Bendine, who was arrested and faces corruption charges as part of Brazil’s Car Wash probe, has denied any wrongdoing. PHOTO: ERALDO PERES/ASSOCIATED PRESS By Luciana Magalhaes Aug. 22, 2017 1:27 p.m. ET SÃO PAULO—Prosecutors leading Brazil’s largest-ever corruption probe... Continue Reading →
Petrobras Clarification on News: Sale process of Termobahia stake
Rio de Janeiro, August 21, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that it received Official Letter 290/2017/CVM/SEP/GEA-1 on 8/21/2017, requesting the following clarification: Official Letter n. 290/2017/CVM/SEP/GEA-1 “Mr. Director, We refer to the news published on 8/21/2017, in the Valor Online newspaper, under the headline “Liminar suspende venda de 50% da TermoBahia, da... Continue Reading →
Pre-salt auctions to offer reserves of 2.5 billion barrels
The two pre-salt auctions that will be held in 2017 will offer at least 2.5 billion barrels of reserves. The figure is a conservative estimate: it considers that only 20% of the 12.3 billion barrels identified by the ANP in the areas can be recovered. Typically, the average recovery of reserves in Brazil ranges from... Continue Reading →
Brazil to sell Eletrobras control in boldest privatization yet
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 →
Date set for shareholders’ vote on Ensco-Atwood merger
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 →
