OGX Petróleo e Gás Participações SA, the Brazilian oil producer that filed for bankruptcy protection, is reviewing legal options after Malaysia's Petroliam Nasional Bhd canceled its agreed purchase of a stake in two OGX oil blocks.
OGX Petroleo e Gas Participacoes SA
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OGX would be parting its 67% stake in OGX Maranhão Petróleo e Gas SA in a multistep deal for BRL344 million or USD156 million.
OGX would be filing for bankruptcy should it not be able to meet interest payments to bondholders amounting to USD44.5 million.
Luiz Carneiro was fired as chief executive of his OGX Petroleo e Gas Participacoes SA by Eike Batista, whose commodity group owned the oil and gas company.
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