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Stock Market & Financial Investment News

News Breaks
November 26, 2012
18:33 EDTPBROGX acquires Petrobras' 40% stake in BS-4 block for $270M
OGX Petroleo e Gas Participacoes S.A. announced that it has entered into an agreement with Petrobras (PBR) to acquire a 40% participating interest in Block BS-4, located in the Santos Basin. The remaining concession rights for Block BS-4 belong to a consortium formed by Queiroz Galvao Exploracao e Producao SA, which holds the operatorship and a 30% participating interest, and Barra Energia do Brasil Petroleo e Gas Ltda., which also holds a 30% participating interest. These stakes remain unchanged. The acquisition price for OGX's 40% stake in the Block BS-4 was $270M.
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April 16, 2014
06:33 EDTPBRPetrobras having difficulties, NY Times says
Brazilian energy company Petrobras is experiencing multiple problems, as its oil production has stagnated, its employees have been accused of taking bribes, and its debt is surging, according to The New York Times. Analysts warn that the company could face problems in international bond markets, the newspaper stated. Reference Link

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