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3R Petroleum deal for NTE assets rejected in Brazil; CADE to probe omission in filing

By Maria Júlia Baumert ( September 25, 2024, 22:34 GMT | Insight) -- Brazil’s competition authority has rejected 3R Petroleum’s deal to acquire NTE’s assets in the Papa-Terra Field and opened an investigation due to conflicting information in the filings. The alleged errors include wrongly naming the consortium and omitting NTE’s information. Lead councilor Camila Cabral Pires Alves noted that while CADE doesn’t rule on compulsory transfers, the inaccurate information harmed third parties' rights. 3R Petroleum's deal to acquire Nova Técnica Energy (NTE's) assets in the Papa-Terra Field was denied by the Brazilian competition authority, which opened an investigation for conflicting information in the notification filing....

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