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VOICED : Brasil petrolera OGX tambalea
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Business, Social Studies
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9th - 12th Grade
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OGX, a Brazilian oil company owned by Eike Batista, failed to renegotiate its $3.6 billion debt, risking bankruptcy. Analysts expect OGX to seek legal protection to avoid this. Founded in 2007, OGX's decline began with unmet production promises. Batista, once the world's seventh richest man, has seen his fortune dwindle due to falling stock prices.
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