Petrobras & Others Urge Cade to Safeguard Competition in Subsea Market

Key Takeaways Petrobras, Exxon and TechnipFMC asked Cade to review the Subsea7-Saipem merger.The firms warn that the deal may hike costs and reduce options in subsea oil and gas projects.The merger would eliminate opportunities for rival companies to participate in Brazil's public tenders.Per Reuters, Petróleo Brasileiro S.A. - Petrobras (PBR) , one of the largest integrated energy firms in Brazil, alongside Exxon Mobil Corporation (XOM) and TechnipFMC plc (FTI) , has petitioned Brazil’s antitrust regulator ...