Batista sells $850m stake in troubled oil assets to Petronas
Eike Batista has sold a $850m stake in his troubled oil assets to Malaysia's state-run Petronas as Brazil's once richest man struggles to fund his energy and mining empire.
Japan-based oil refiner Showa Shell Sekiyu announced it plans to invest as much as 320 billion yen in oil ventures and solar panels during a four-year span from 2010 to 2014.