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Abu Dhabi National Oil Company (ADNOC) has terminated discussions to acquire a stake in Brazilian petrochemicals producer Braskem, leading to a significant drop in Braskem's share value. Braskem's shares fell by 25% in US premarket trading and subsequently dropped another 15% following the announcement. Subsequently, Petrobras, another major stakeholder, is now awaiting offers from other potential suitors for Braskem and could exercise rights for a stake in the company.
#Brazil: Petrobras Waits on Offers From Braskem’s Other Suitors, CEO Says Brazilian oil producer could exercise rights for Braskem stake Petrobras and Adnoc have ‘other things’ apart from Braskem #oott https://t.co/6xV47c3VWA
Capsized barge in Tobago spill might have picked up fuel in Venezuela, Trinidad says #oott https://t.co/f8s5eFXjx2
Petrobras is waiting for other companies to make bids for a stake in petrochemicals producer Braskem after Adnoc pulled out of the running https://t.co/hYGZlNNv6e
