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By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Once one of Brazil’s richest man, Eike Batista, has been accused of insider trading, a crime punishable with up to thirteen years in jail if found guilty, according to the...
By William Jones, Contributing Reporter RIO DE JANEIRO, BRAZIL - OGX has revealed that they have started pumping crude oil in the Turbarão Martelo oil field after numerous failures which have dragged the company to the brink of extinction. Millionaire...
By Stephanie Foden, Contributing Reporter SÃO PAULO, BRAZIL – The Securities Commission of Brazil, CVM, announced it is investigating Brazilian tycoon Eike Batista and top executives at OGX, Batista’s flagship oil company. Investors accuse the magnate, once Brazil’s richest man,...
By Maria Lopez Conde, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s stock exchange, the Bovespa, suffered a 22 percent loss in the first six months of this year, making it its worst semester since the financial crisis struck...
By Maria Lopez Conde, Contributing Reporter RIO DE JANEIRO, BRAZIL – Sixty-four out of the 71 national and international companies that filed requests with the Brazil’s National Petroleum Agency (ANP) will be allowed to bid for Brazilian exploration blocks this...
By Ben Tavener, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Second biggest petroleum company in Brazil, OGX, has fared the worst in terms of market value so far in 2012 of Brazil’s 295 companies publicly-traded on the São Paulo...
By Lucy Jordan, Contributing Reporter BRASÍLIA, BRAZIL – Shares in Eike Batista’s oil and gas company, OGX Petroleo & Gas Participacoes (OGX), rebounded Monday after a rollercoaster week saw them drop by forty percent last Wednesday and Thursday, temporarily knocking...
By Stephen Eisenhammer, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL - The U.S. dollar, as well as Bovespa, Sao Paulo’s stock exchange, were both up Monday. The dollar continued to rise against the Brazilian real, up 1.18 percent to R$2.041...
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