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accounting exercise:
the sales of fpso anna nery reduce the company's stake in the fpso to 63.2% and hence the company lose control to the fpso. the fpso is now converted from a subsidiary to a joint venture. and due to this conversion, a 484million one-off paper gain is registered in the income statement. Without this 484 million, this counter will be at a loss of 338 million (484m-145m).
Operating expense expected to increase following minimum wage hike + slowing demand + heightened competition + increase in electricity. However, IMHO, the main reason to drop is large player has rotated to other countries or stocks.
