Gus, you have a point, but probably not any public company that reports on GAAP basis. Those rules would require to include its portion of earnings or loss in its financials if it has an ownership of 15-20%.
Your idea, if true, might be geared towards Petrobras, if it isn't Tanure and his cronies. Rosneft might be a candidate, but Brazil laws might make it a difficult deal for them.
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