OGX to return nine new oil exploration blocks

OGX Petroleum (OGXPY.PK), the flagship of Eike Batista's troubled industrial empire, says it would return nine oil and natural gas exploration blocks it won at an Brazilian auction earlier this year.

OGX will pay a fine of 3.42M Brazilian reais ($1.42M) for returning the blocks.

OGX is banking on the start of oil output at the Tubarao Martelo field to boost revenues.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs