Posts Tagged “brazil”

Petrol Politics: How Much Should an Oil Spill Cost?

Originally published by Time. By BRYAN WALSH How serious should the penalties for an oil spill be? In early November, Chevron and its drilling partner Transocean accidentally spilled some 3,000 barrels of oil into the ocean off the coast of Rio de Janeiro in Brazil. As oil spill go, it was relatively minor—although it is a sign of […]

Brazil Sues Chevron for $11 Billion for oil spill

Originally published by the Wall Street Journal. By MATTHEW COWLEY And JOHN LYONS SAO PAULO—A Brazilian federal prosecutor on Wednesday asked a judge to shut down all Chevron Corp. and Transocean Ltd. operations in Brazil in a lawsuit that seeks some 20 billion Brazilian reais ($11 billion) in damages from the companies, the latest legal broadside to the […]

New oil leak found in Brazil

Originally published on The Raw Story. By Agence France-Presse Brazil’s environmental authorities said they have discovered a 10,000 liter leak at an oil platform in the pristine Bay of Ilha Grande, the second such mishap to threaten this country’s shorelines in recent weeks. Carlos Minc, Environment Secretary in Rio de Janeiro state, said the accident […]

Chevron faces $10.6bn Brazil legal suit over oil spill

Originally published on the BBC. Prosecutors in Brazil are demanding $10.6bn (£6.8bn) from US oil company Chevron for environmental damage caused when one of its oil wells leaked off the coast of Rio de Janeiro. The prosecutors also asked the court to immediately suspend the operations of Chevron and its drilling contractor, Transocean, in Brazil.

Chevron and the Brazilian Oil Spill

Originally published on the Energy Tribune. By Prof. Cláudio A. Pinho The type, rates and the distribution of royalties collected from offshore oil and gas activities in Brazil are different from those in the United States. In Brazil the royalties exists to compensate for tax losses but also to remedy environmental impact to the states, endemic […]

Brazil suspends Chevron’s drilling rights

Article originally published on By Peter Murphy (Reuters) – Brazil’s government suspended Chevron Corp’s drilling rights until Chevron clarifies the causes of an offshore oil spill, the latest twist in a political firestorm threatening the U.S. company’s role in Brazil’s oil bonanza. The decision on Wednesday came as the head of Chevron’s Brazilian unit […]

Chevron to cap, abandon leaking Brazil oil well

Originally published on Fox News. Rio de Janeiro –  Brazilian oil regulator ANP approved Chevron Corp.’s plan to seal a leaking offshore well, the official Agencia Brasil news agency said Tuesday. The leak began Nov. 8 at the well in the Frade field, located in the Campos Basin about 370 kilometers (230 miles) from the […]

Chevron takes blame for Brazil oil spill

Originally published by the Orlando Sentinel. BRADLEY BROOKS, Associated PressSAO PAULO (AP) — An ongoing oil spill off the Brazilian coast occurred because Chevron underestimated the pressure in an underwater reservoir, the head of the company’s Brazil operations said Sunday. George Buck, chief operating officer for the Brazilian division of the San Ramon, California-based company, […]