Seeking Alpha

Brazil's National Petroleum Agency says it's unlikely to fine Chevron (CVX) more than 50M reais...

Brazil's National Petroleum Agency says it's unlikely to fine Chevron (CVX) more than 50M reais ($24.5M) for its role in a November oil spill off Brazil's coast; the agency is expected to release its report on the incident later this week. CVX and Transocean (RIG) face civil and criminal lawsuits for their roles in the incident at the CVX-operated Frade offshore oil field.
Comments (4)
  • I hope we are ready to do the same to Cuba/China when/if they have a spill off the coast of florida, which I think will be a lot closer to US beaches than what went down in Brazil..
    16 Jul 2012, 06:10 PM Reply Like
  • Brazil doesn't want to kill the cash cow, just bleed it a little bit. Big oil, cut your losses and get out because it won't stop.
    16 Jul 2012, 06:53 PM Reply Like
  • Just another chunk of cash going to a corrupt bunch of thugs in a banana republic... money that could have gone to benefit shareholders (who are the owners of the company). If you are a shareholder, you just got mugged.
    16 Jul 2012, 11:39 PM Reply Like
  • Just a tax on doing business. Now on to Equadorean opportunists.
    17 Jul 2012, 10:08 AM Reply Like
DJIA (DIA) S&P 500 (SPY)