Regulatory News

General Electric signed a $2.3 million contract that provides equipment to Petrobras. The announcement was made at the Rio Oil & Gas Fair, the main event in the oil sector in Latin America. The agreement is the largest ever made ​​between the two companies and it provides for GE delivering 380 systems for exploration of oil wells.

In the last five years, the American multinational company has invested about $10 billion in the acquisition of equipment manufacturing companies in the oil and gas sector in Latin America. To supply Petrobras, GE spent $62 million to expand a factory in Jandira, São Paulo, and Macae, on Rio de Janeiro's coastline. Another $200 million is being invested in a unit located in the city of Niteroi, next to Rio de Janeiro, that specializes in deep-water equipment.

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