• 1 day PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 1 day Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 2 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 2 days Schlumberger Warns Of Moderating Investment In North America
  • 2 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 2 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 2 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 2 days New Video Game Targets Oil Infrastructure
  • 2 days Shell Restarts Bonny Light Exports
  • 2 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 2 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 2 days British Utility Companies Brace For Major Reforms
  • 3 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 3 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 3 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 3 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 3 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 3 days Rosneft Signs $400M Deal With Kurdistan
  • 3 days Kinder Morgan Warns About Trans Mountain Delays
  • 3 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 3 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 4 days Russia, Saudis Team Up To Boost Fracking Tech
  • 4 days Conflicting News Spurs Doubt On Aramco IPO
  • 4 days Exxon Starts Production At New Refinery In Texas
  • 4 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 5 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 5 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 5 days China To Take 5% Of Rosneft’s Output In New Deal
  • 5 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 5 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 5 days VW Fails To Secure Critical Commodity For EVs
  • 5 days Enbridge Pipeline Expansion Finally Approved
  • 5 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 5 days OPEC Oil Deal Compliance Falls To 86%
  • 6 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 6 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 6 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 6 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 6 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 6 days Aramco Says No Plans To Shelve IPO
The U.S. Shale Play To Watch In 2018

The U.S. Shale Play To Watch In 2018

The original U.S. shale gas…

Half A Million Bpd At Risk From Geopolitical Firestorm

Half A Million Bpd At Risk From Geopolitical Firestorm

Geopolitical tensions are once again…

Chevron Appeals Injunction Preventing it from Operating in Brazilian Waters

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