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Brazil CADE upholds fine against 3R Petroleum for misleading deal notification

By Maria Júlia Baumert ( February 12, 2025, 18:40 GMT | Insight) -- The Tribunal of the Brazilian competition authority has denied 3R Petroleum Offshore SA's request to revoke and dismiss a 206,000 reais fine imposed on the company for misleading conduct in the notification of a deal with the BC20 Consortium. Despite upholding the fine, the Tribunal accepted a proposal by 3R Petroleum to allow a 15 percent discount on the penalty amount provided the payment is made within 60 days. The Tribunal of the Brazilian competition authority has denied 3R Petroleum Offshore SA's request to revoke and dismiss a 206,000 reais ($35,780) fine imposed on the company for misleading conduct in the notification of a deal....

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