Though Chevron (CVX) faced a public thrashing over its complicity in an offshore oil spill - it...

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

Though Chevron (CVX) faced a public thrashing over its complicity in an offshore oil spill - it may be the nation of Brazil that feels the deeper impact. While the oil concern is seen recovering its drilling rights in the nation, analysts warn the spill underscores how ill-prepared Brazil may be to ramp up deepwater drilling in its ambitious bid to become the 3rd or 4th largest oil producer by 2020. "The spill shows that nobody was properly prepared, not Chevron, not the government, not the regulators," warns a domestic energy advisor.