Brazil: Chevron Threatened With “Permanent Ban” From Brazil in 20bn Reais Suit
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Monday, 19 December 2011 |
 Brazilian Federal Prosecutor Eduardo Santos has said he will seek a “permanent ban” on Chevron’s operations in the country in a suit arising from an oil spill last month. Speaking to reporters in Rio de Janeiro, Santos said there is no timeline yet for the lawsuit, and that he is suing both Chevron and Transocean for an unprecedented 20bn Reais (roughly $10.8bn).
Explaining his
decision, Santos said that previous fines on companies worth millions of
Reais had not prevented subsequent accidents. “Brazil has to change the
paradigm from millions to billions,” he insisted.
Chevron has
insisted that it is committed to operating in Brazil on a long-term
basis. Speaking at an event in Houston, Vice President for Africa and
Latin American Exploration and Production Ali Moshiri said that the
company is working with federal agencies following the spill which saw
3,000 barrels of oil leaked into the Campos Basin over eight days.
In
targeting Transocean, Santos’ suit poses complications for other
companies operating in Brazil. The firm currently operates 10 of the 61
rigs working in the country.
PetrolWorld 19122011
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