Chevron (CVX) would be willing to pay ~300M reais ($150M) to settle lawsuits in Brazil over an...

|About: Chevron Corporation (CVX)|By:, SA News Editor

Chevron (CVX) would be willing to pay ~300M reais ($150M) to settle lawsuits in Brazil over an offshore oil spill last year, a senior executive and a federal prosecutor say. CVX and its drilling contractor Transocean (RIG) face up to $20B in damages, but a judge is unlikely to accept the steep fines sought by the prosecutor who first filed the charges.