OGX Owes $31 Million, Could Lose Oil Concession
Oleo e Gas Participacoes SA (OGX) is in danger of losing its 40% stake in a Brazilian offshore oil concession if it is unable to repay $31 million that it owes its two partners, Qgep Participacoes SA (BVMF:QGEP3) and Barra Energia, both of which hold a 30% stake in the concession, reports Jeff Fick for The Wall Street Journal.
OGX owner Eike Batista
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