Brazil's OGX Petroleum (OGXPY.PK), controlled by billionaire Eike Batista, could raise ~$1B with...

|By:, SA News Editor

Brazil's OGX Petroleum (OGXPY.PK), controlled by billionaire Eike Batista, could raise ~$1B with the sale of stakes in some of its exploration blocks and oilfields, WSJ reports. Malaysia's Petronas is seen as the frontrunner for the stakes; OGX also has talked with Russia's Lukoil. The potential sale comes as Batista seeks funds for massive, capital-intensive infrastructure projects.