Brazil's OGX Petroleum (OGXPY.PK +14.6%) reportedly is in talks to sell a 40% stake in the...

|By:, SA News Editor

Brazil's OGX Petroleum (OGXPY.PK +14.6%) reportedly is in talks to sell a 40% stake in the company to Lukoil, as well as a 40% stake in its Tubarao Martelo field to Malaysia's Petronas; OGX denies the report but investors are reacting positively. The deals would shore up finances at Eike Batista's troubled company ahead of next month's important auction of oil and natural gas concessions.