Oil majors in Brazil have decided they’ve seen enough of the proposed Subsea7–Saipem tie-up, and they’re pushing antitrust regulator Cade to slow it down or break it up. The merger, announced earlier this year, would create a new oilfield services deepwater heavyweight called Saipem7 — a company large enough to matter in any basin, but especially in Brazil, where subsea contractors are already a small club.
Cade has now asked both firms for fresh data, saying it still doesn’t have the information it needs to assess…Brazil’s Oil Sector Rallies Against Oilfield Services Merger Plan
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