Stock markets have absorbed the news that the Campos basin heavy oilfield Tubarao Azul is a spectacular dud, and OGX’s stock price has shown some capacity to rally if a group-wide restructuring plan starts to gain credibility.
OGX’s holding company EBX has been rocked to its foundations in recent weeks.
Critics say EBX controller Eike Batista created something of a personality cult, and investment decisions that one time seemed audacious now smack of rashness.
Batista
