Norway’s BW Offshore has won approval from Brazil’s antitrust watchdog CADE to buy the Maromba oilfield from Petrobras and Chevron, according to a statement in the official gazette on Wednesday, March 6.
Petrobras has a 70% percent stake in the field, while Chevron has a 30% percent stake.
“The transaction represents an opportunity for BW to enter and start its activities in the oil and natural gas exploration and production market in Brazil,” CADE announced said in a statement, adding that the transaction “does not lead to competitive concerns.”
Petrobras informed CADE that the sale is part of its divestment program, while Chevron stated said the sale is strategic, allowing it to focus on other projects.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI