Frade FPSO Finally Given Green Light for Restart by Brazilian Authorities

By Jeb Blount RIO DE JANEIRO, April 8 (Reuters) - Brazil's oil regulator, the ANP, said on Monday that it authorized Chevron Corp to restart output from an offshore oil field more than a year after a November 2011 spill forced the No. 2 U.S. oil company to stop Brazilian production. Chevron was granted permission to restart output from four wells at the Frade field for … [Read more...]

Chevron Nears Settlement in Brazil Over Frade Oil Spill

By Jeb Blount RIO DE JANEIRO - Chevron Corp is willing to pay about 300 million reais ($144 million) to settle lawsuits in Brazil over an oil spill last year, a senior executive and a federal prosecutor said on Friday. The talks over a possible settlement reinforce expectations of a swift resolution for Chevron, the No. 2 U.S. oil company, and its drilling contractor … [Read more...]

Chevron’s Frade FPSO to Restart Production as Brazilian Court Dismisses Injunction

(Dow Jones) Chevron Corp. (CVX) is working with Brazilian regulators to restart production at its Frade offshore field, after a court dismissed an injunction that barred the oil company and contractor Transocean Ltd (RIG) from operating in the country. "Chevron is pleased with the court's decision to dismiss the injunction,"Chevron spokesman Kurt Glaubitz said in an e-mail. … [Read more...]

Transocean CEO: Brazil Injunction is Unwarranted and Flawed

HOUSTON--A Brazilian appeals court has denied a request by the national oil regulator to suspend an injunction barring Transocean Ltd. (RIG) and Chevron Corp. (CVX) from operating in the country, Transocean Chief Executive Steven Newman said on a conference call Wednesday. The court responsible for the case could not yet confirm the ruling. A Brazilian court banned the … [Read more...]

Brazil Court Allows Chevron Exec to Leave Country

RIO DE JANEIRO--A federal court in Brazil will allow one of the executives charged in a criminal lawsuit related to a November spill at an offshore oil field operated by U.S. major Chevron Corp. (CVX) to pay a bond and leave the country, a source familiar with the court's decision said Wednesday. Chevron Brasil President George Buck will have to pay a 500,000 Brazilian reais … [Read more...]