You are here

OGX, Petronas may go to arbitration

Petronas says it's awaiting OGX's debt restructuring

MALAYSIA'S state oil firm Petroliam Nasional (Petronas) has rescinded a US$850 million agreement with Brazil's OGX Petroleo & Gas Participacoes SA to buy a 40 per cent interest in two of its oil blocks, the Rio de Janeiro-based company said in a stock exchange filing in Brazil late on Monday