Regulatory News

The court decided to dismiss the criminal case against oil company Chevron, operator of the Transocean rigs and 17 employees of companies for the spill of about 3,600 barrels oil off the coast of Rio de Janeiro in 2011. However, proceedings seeking damages of about R$40 billion (US$20.2 billion) are still under review by the courts.

The suits requested the arrest of company executives, including former chairman of Chevron in Brazil, George Buck. Despite the court ruling, the prosecutor can still file an appeal to re-examine the processes.

© 2007 CRE Brazil - All Rights Reserved.