Regulatory News

By a court decision, 17 executives from Chevron and Transocean Brazil are not allowed to leave Brazil. According to Judge Vlamir Costa Magalhães, the decision was made because any departure from the country would hamper investigations into two recent oil spills in Frade Field located in the Campos Basin on the coast of Rio de Janeiro. Transocean was hired by Chevron to drill the well where 2,400 barrels spilled into the ocean in November. In early March, Chevron discovered a new spill, though much smaller.

According to Fabio Scliar of the Bureau of Environment of the Federal Police, responsible for investigating accidents, the second spill occurred as a result of the first. Company executives will have to answer to the court for environmental crime. In addition, companies will also receive fines from the National Petroleum Agency (ANP) and the Brazilian Institute for the Environment (IBAMA).

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