Wednesday, October 30, 2013

USD 34 Billion in oil wealth evaporates. When will oil investors lose their nerve?

Businessweek: " Batista and OGX had to admit that their much-hyped “new frontier” of oil off the Brazilian coast was actually a collection of mediocre-to-dud oil wells. Production would come nowhere close to paying off the billions he had borrowed in the bond market to finance exploration and production."

'via Blog this'