New York (Reuters)-Brazil's richest man said, last Friday, he has given up negotiations, the prospect of the offshore oil, such as from China's interest to sell shares, because he has been in the tens of billions of dollars in cash.
Echoviruses batista's flagship oil company OGX company had been and including the oil from China enterprise company talks, but no longer think need not with the sale, for a $2.6 billion bond issues and earlier this year, to leave it, he said, is in flushing a Reuters three hours of interviews headquarters.
Batista, said the company was close to signing OGX long-term supply agreement, export its oil production, part of one of the world's largest refinery, not the company, named.
Batista told reporters. "issue bonds and this is spectacular, completely cover the need for cash,". "We bring is just what we need to rely on our own trophies."
Batista, "Forbes" value of nearly $3 billion, in the face of the global economy deteriorates quickly made provocative tone, said his company run "idiot" type of project, can bear in the commodity price drop significantly.
He said he saw "zero" risk, economic slowdown may prevent his company's efforts to improve its estimates that in the plan investment of us $5 billion in capital.
"I want to smile, he said:" when asked if he was worried about recently in his company's stock price has plummeted. "My company would be enormous cash flow machine, I'm going to pump money to my shareholders and share out bonus, my son and my grandson."
OGX shares in the company and some of the other company suffered batista, since a sharp drop in the beginning of August in market turbulence. OGX company is down 43% since the beginning of time.
He expected, he's five listed company, its scope, from oil and natural gas production in the mining industry and logistics, in 2012 the interest, tax, depreciation and amortisation earnings before the $100 million.
Adventure culture
A gorgeous playboy, a drop in the chart above life in Brazil, batista vowed to expand, Brazil's mark infrastructure, he said it was restricted the country's economic growth and reduce its competitiveness.
He said, "I want to build it into a modern machine, Brazil," describe the current mess, blocking port, improve the cost of exporters, and to prevent expanding industry.
He said his company-most of which are not generate profit-will be able to pay shareholders dividend by 2014 from, because they generate revenue.
OGX company, batista's's largest company by market, attracting billions of dollars in investment in 2008 the stock issue, has come to the state-run oil company, Brazil, critics say, from the national leaders have been political intervention alternative.
Batista, his first wealth, from the 1980 s wildcat miners to buy gold, saying he would like to undertake financial risks, and from the Brazilian counterparts.
"No I ventured culture, what will happen," he said. "The guy's not the risk of stomach," he said, the Brazilian businessmen.
He also is helpful for where to find the uncanny sense wealth. "I have with the nature of the agreement," he said.
Oil production
OGX company plan in November's first oil pump, and said, its drilling activities already success rate of nearly 90%. It plan from 20000 barrels a day (Opec) improve output at the end of this year, and in 2019 to 14000 barrels.
And he said, from his first business has known oil field, united batista plan to start selling oil "three before the" oil and huge oil refining of major interest.
He said, "when we sign the contract, and the world will see our oil quality," down, because the company's recognition of securities laws and regulations.
Batista said, his shallow water drilling cost low means OGX company will break even if the world oil prices down to $24 per barrel low. The benchmark brent crude oil is currently higher than the share price of $104 a barrel, he expects the average price in the future 90 dollars a barrel.
OGX company's stock rose 1.1%, to $11.71 reais in Brazil's Bovespa last Friday, communication.
Buoyancy Brazil
He said that, in the last few weeks of market volatility has encouraged Brazil's currency against the dollar reais faster than the speed of the Brazilian government was going to lose value.
Finished Friday close to $1.84 reais each rate, but low down 1.90 on Thursday. Recent late August, rates lower than 1.60.
But he said Brazil than any other country better against a global recession, cites Brazil increased last month in 190000.
"We are running full employment big project have trouble hiring staff," he said in an interview with Reuters insider. "By 2020, we are going to the middle class in 75% of the population. It's beautiful, isn't it?"




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