Tommaso Ebhardt February 10, 2016 Exor SpA , the investment company of Italy’s Agnelli family, bought a 13 percent stake in Danish oil-technology company Welltec to help founder Jorgen Hallundbaek expand the business. The Italian holding company, which controls carmakers Fiat Chrysler Automobiles and Ferrari NV, is investing 103.3 million euros ($116 million) for the... Continue Reading →
International Coalition Announces Criminal Lawsuit Against Petrobras et al in Spanish Criminal Court
International Coalition Announces Criminal Lawsuit Against Petrobras et al in Spanish Criminal Court Offers International Investors Easy Access to Participation February 10, 2016 12:01 AM Eastern Standard Time MADRID--(BUSINESS WIRE)--The Asociacion de Afectados de Petrobras, a Madrid-based shareholder association; International Securities Associations & Foundations Management Company for Damaged Petrobras Investors (Bolsa Madrid) Ltd. (“ISAF Petrobras”);... Continue Reading →
International Coalition Announces the Formation of Stichting Petrobras Compensation Foundation
International Coalition Announces the Formation of Stichting Petrobras Compensation Foundation, a Dutch Foundation Representing Investors Damaged by Petrobras et al Offers International Investors Easy Access to Participation February 10, 2016 12:01 AM Eastern Standard Time ROTTERDAM, Netherlands--(BUSINESS WIRE)--Stichting Petrobras Compensation Foundation, a Netherlands-based claim foundation (the “Foundation”); International Securities Associations and Foundations Management Company for... Continue Reading →
Anadarko Cuts Dividend 81 Percent to Weather Oil-Price Crash
Anadarko Petroleum Corp. slashed its dividend by 81 percent, joining a parade of oil and natural gas drillers cutting investor payments as they struggle to preserve cash with prices below $30 a barrel. The cut, the first in the company’s history, reduces payments payable March 23 by 22 cents to 5 cents per share, the company... Continue Reading →
For Statoil, $7 Billion Spending Cut Is Road Back Home to Norway
Statoil ASA’s investment cuts in response to the crude-price rout have sent shock waves through Norway’s oil industry, but it’s the company’s international operations that are paying the bigger price. As painful as the company’s billions of dollars of cuts are for Norway, where it operates more than 70 percent of production, they’ve actually raised... Continue Reading →
Maersk Profit Plunges as Oil, Container Units Both Suffer
A.P. Moeller-Maersk A/S reported an 84 percent plunge in 2015 profit after its oil unit was hit by lower energy prices and its container division got squeezed between sluggish trade growth and overcapacity. The shares fell the most in almost a year. Maersk said net income was $791 million last year compared with $5.02 billion... Continue Reading →
Halliburton Said to Plan Sale of Baker’s Offshore Fluids Unit
Almost 16 months after announcing its takeover of oilfield services rival Baker Hughes Inc., Halliburton Co. is adding yet more assets to the list of businesses it plans to sell to appease antitrust regulators who’ve been stalling the deal. Halliburton plans to divest Baker’s offshore drilling-and-completions fluids division and the bulk of Baker’s completion systems, according to... Continue Reading →
Oil Bankruptcies Seen Spurring M&A on Signal Prices Near Low
About 150 oil and gas companies tracked by energy consultant IHS Inc. may go bust as a supply glut pressures prices and punishes revenues. The number of companies at risk is more than twice the 60 producers that have already filed for bankruptcy, Bob Fryklund, chief upstream analyst at IHS, said in an interview. A further shake... Continue Reading →
Technip Awarded a Subsea Contract for the South Santa Cruz and Barataria Fields in the Gulf of Mexico
February 09, 2016 PARIS--(BUSINESS WIRE)--Regulatory News: Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has been awarded a lump sum contract by Deep Gulf Energy III, LLC (“DGE”) for the development of the South Santa Cruz and Barataria fields. These ultra-deepwater fields are located in Mississippi Canyon, offshore New Orleans, in the Gulf of Mexico, in approximately 2,000... Continue Reading →
Petrobras – Clarification of News Item: Merger of Comperj
02/03/2016 Rio de Janeiro, February 3, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 37/2016-CVM/SEP/GEA-1, which requests the following clarifications: OFFICIAL LETTER 37/2016-CVM/SEP/GEA-1 “Dear Officer, 1. We refer to the news item published in the Economia (Economy) section of today’s edition of the newspaper O Globo, entitled Uma saída para o... Continue Reading →
Brazil Energy Insight 