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Thursday, 31 July 2014

Eike Batista has sweeter barrels than Petrobras

Barrels of fun

Shares of OGX the flagship of Brazil's richest man value its shallow water oil reserves at roughly $5 a barrel. That looks a bargain against the $8.51 the government is extracting from Petrobras for deepwater crude. It's no wonder Chinese bidders are sniffing around.



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