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Article

1 Aug 2012

Author:
Peter Millard, Bloomberg

Brazil Court Orders Chevron, Transocean To Halt Operations

A Brazilian court ordered Chevron...and Transocean...to halt operations in 30 days while investigations of two oil spills are conducted. Each company will have to pay...$243 million...for each day it fails to comply with the order, the court said...The halt will last until the federal prosecutors office, the country’s oil regulator and environmental agencies complete investigating oil spills in November and March, the court said. Chevron had an oil spill at the Frade project off the coast of Brazil in November and identified oil seeps on the ocean floor in March...Transocean provided the drilling rig for the well that leaked...