OGX Petroleo & Gas Participacoes SA, the Brazilian oil company that lost about 40 percent of its value last week after cutting output targets, is forecast by analysts to seek fresh capital from billionaire investor Eike Batista as it ramps up drilling.
Petroleo Brasileiro SA , the Brazilian state-controlled oil producer planning the Western Hemisphere’s largest share offer in a decade, said it doesn’t expect the crisis roiling European debt markets to affect the stock sale.
Agricultural Bank of China Ltd. and Petroleo Brasileiro SA may hit the market with $50 billion of shares by the end of September after state-backed sales pushed initial public offerings in emerging markets above developed nations for a record fifth straight quarter.
Petroleo Brasileiro SA , Latin America’s biggest company by market value, fell the most in three weeks after delaying the sale of as much as $25 billion of stock until September because a price hasn’t been set in a related deal to buy oil reserves from the government.
OGX Petroleo & Gas Participacoes SA, the Brazilian oil company controlled by billionaire Eike Batista, fell in New York trading as oil slumped to a four-month low after the International Energy Agency said its members would release crude from strategic reserves.
OGX Petroleo e Gas Participacoes SA, the oil company controlled by Brazilian billionaire Eike Batista, said it’s receiving offers for stakes in its Brazilian crude and natural-gas projects and expects a sale this year. The stock rose the most in a month.