Chevron, Brazil legal tangle over Frade incident continues

Brazil wants Chevron Corp. and Transocean Ltd. to stop operations offshore Brazil while a lawsuit for environmental damage against the two companies goes forward, according to a Dow Jones report.

Dec 15th, 2011

Offshore staff

SÃO PAULO, Brazil – Brazil wants Chevron Corp. and Transocean Ltd. to stop operations offshore Brazil while a lawsuit for environmental damage against the two companies goes forward, according to a Dow Jones report.

However, Chevron Corp. said that while a Brazilian federal district prosecutor has told reporters that he will file a civil lawsuit against Chevron and other companies seeking a reported 20 billion reais ($10.7 billion) in damages, Chevron has not received any formal notice of this action.

Further, Chevron says it has not received any instruction from the regulatory agencies with oversight responsibility for our activities in Brazil regarding suspension of operations.

12/15/2011

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