Transocean (RIG +0.1%) says a Brazilian court upheld a ruling that would prevent it and Chevron...

|About: Transocean Ltd. (RIG)|By:, SA News Editor

Transocean (RIG +0.1%) says a Brazilian court upheld a ruling that would prevent it and Chevron (CVX) from operating in the country. CEO Steven Newman, who had expressed confidence the ban would be overturned, calls it "kind of a worst-case scenario," and RIG's rigs likely would stop generating revenue while it fights the court decision.