Brazilian independent stands to lose

Batista set to lose: If his company does not pay its share of exploration costs, Eike Batista could lose his rights to the stake

Bankrupt Brazilian player Oleo e Gas Participacoes, the ailing oil producer controlled by Brazilian industrialist Eike Batista, stands to lose offshore exploration rights for Espirito Santo if it fails to meet capital spending commitments by Friday, a source with direct knowledge of the situation told Reuters.

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