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Showing posts with label oil and natural gas production. Show all posts
Showing posts with label oil and natural gas production. Show all posts

Tuesday, July 2, 2013

OGX down 39 percent as Brazil oil company fights to survive

(Reuters) - Brazilian billionaire Eike Batista's flagship oil company OGX Petroleo e Gas SA (OGXP3.SA) slashed capital spending on Monday and pulled the plug on three offshore oil prospects, the latest move by his EBX Group to bolster finances and avert collapse.