• 4 minutes Get First Access To The Oilprice App!
  • 7 minutes Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 11 minutes Japanese Refiners Load First Iran Oil Cargo Since U.S. Sanctions
  • 13 minutes Oil prices forecast
  • 1 hour *Happy Dance* ... U.S. Shale Oil Slowdown
  • 6 hours Oceans "Under Fire" Of Plastic Trash
  • 2 hours Emissions from wear of brakes and tyres likely to be higher in supposedly clean vehicles, experts warn
  • 11 mins Making Fun of EV Owners: ICE-ing Trend?
  • 2 hours Is Natural Gas Renewable? I say yes it is.
  • 22 hours How Is Greenland Dealing With Climate Change?
  • 9 hours Algorithms Taking Over Oil Fields
  • 11 hours Europe Slipping into Recession?
  • 17 hours Socialists want to exorcise the O&G demon by 2030
  • 23 hours Germany: Russia Can Save INF If It Stops Violating The Treaty
  • 16 hours Nuclear Power Can Be Green – But At A Price
  • 13 hours UK, Stay in EU, Says Tusk
  • 5 hours Orphan Wells
Global Intelligence Report - 16th January 2019

Global Intelligence Report - 16th January 2019

Plagued by U.S. oil sanctions,…

Oil Stabilizes As OPEC Implements Cuts

Oil Stabilizes As OPEC Implements Cuts

The oil rally slowed down…

Chevron Appeals Injunction Preventing it from Operating in Brazilian Waters

Following an oil spill last November, and then another leak in March, Chevron and its drilling contractor Transocean Ltd., were ordered to halt all operations in Brazil until civil and criminal charges are judged.

The companies are now contesting that injunction as they look to return to work in the Brazilian oil fields.

The accident caused about 3,000 barrels of oil, less than a thousandth the volume released during BP’s 2010 Deepwater Horizon spill, and was fully contained within four days.

Chevron released a statement saying that their “response to the incident was implemented according to the law, industry standards and in a timely manner. Monitoring of the incident area shows no discernible environmental impact to marine life or human health. No oil has reached Brazil's coast nor any other country.”

However the Brazilian federal prosecutor Eduardo Santos de Oliveira has called the incident one of the worst ecological disasters in Brazil’s history. It was he who won the injunction and is seeking the country’s largest ever civil damages. He is demanding $20 billion be paid, and has levied criminal charges against 17 Chevron and Transocean executives which carry jail terms of up to 31 years. Chevron argues that the proposed damages are excessive.

Chevron owns 52 percent of the Frade field, the location of the leak, with Brazilian state-owned Petrobras owning 30 percent, and the estra 18 percent owned by a group of Japanese energy companies.

Petrobras announced this week that it will support Chevron’s appeal, and that it does not agree with the court and prosecutors view of the spill.

Petrobras has reason to worry. If Transocean, the world’s largest operator of offshore drill rigs, are permanently banned from working in Brazilian waters, Petrobras would have to give up some of its most promising drilling stations. Transocean runs seven rig platforms for Petrobras off Brazil’s coast.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News