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Brazil's ANP: Chevron Oil Spill Fine Unlikely to Surpass $25 Million

- Brazil's National Petroleum Agency, or ANP, is unlikely to fine U.S. oil major Chevron Corp. (CVX) more than 50 million Brazilian reais ($24.6 million) for its role in a November oil spill off Brazil's coast, ANP Director Magda Chambriard said Monday. The ANP is expected to release its report on the incident, in which a drilling accident caused between 2,400 and 3,000 barrels of oil to leak into the Atlantic Ocean from cracks in the seabed, later this week. Speaking on the sidelines of an event in Rio de Janeiro, Ms. Chambriard told reporters that Chevron would be fined for more than 20 infractions related to the spill. The ANP's press office confirmed Ms. Chambriard's comments, with a spokesman adding that a total of 25 separate infractions were discovered during the regulator's investigation. Chevron and drill rig operator Transocean Ltd. (RIG) are facing civil and criminal lawsuits for their roles in the incident at the Chevron-operated Frade offshore oil field. Chevron didn't immediately respond to email and telephone requests for comment. "We believe that it will be clearly demonstrated that the company acted responsibly and quickly, following the highest industry standards," said Guy Cantwell, a spokesman for Transocean. Write to Jeff Fick at jeff.fick@dowjones.com

Stock News for Transocean (RIG)
DateTimeHeadline
09/23/201409:17:01Transocean Files 8K - Regulation FD
09/23/201409:17:01Transocean Files 8K - Other Events
09/05/201412:49:15LONDON MARKETS: BP Outperforms, RBS Drops In London Trade
08/07/201409:43:14U.S. Hot Stocks: Hot Stocks to Watch
07/02/201416:41:26Transocean Files 8K - Direct Or Off-Balance Sheet Financial Obligation
07/02/201416:41:26Transocean Files 8K - Termination Of Definitive Agreement
07/02/201416:41:26Transocean Files 8K - Entry Into Definitive Agreement
06/05/201421:12:20Investigators Fault Blowout Preventer in Deepwater Horizon Oil...
05/19/201417:10:15Transocean Files 8K - Changes To Articles
05/19/201417:10:15Transocean Files 8K - Changes Executive Management
05/08/201411:19:52Correction to Wednesday's Transocean Earnings Story
05/05/201419:17:39Transocean Ltd to Spin Off 8 Drilling Rigs Into New Company
02/27/201413:13:06MARKET SNAPSHOT: U.S. Stocks Rise; S&P 500 Eyes 1,850 Record
02/27/201410:58:13MARKET SNAPSHOT: U.S. Stocks Volatile; Yellen Speaks Before Senate
02/27/201409:36:24Hot Stocks: Hot Stocks to Watch
02/26/201419:17:10Sembcorp Marine Gets $1.08 Billion in Contracts from Transocean...
02/26/201418:40:02Transocean 4th-Quarter Net Down 49% on Higher Costs
11/15/201309:19:39Omega Advisors 3Q 13F: Largest Purchases
11/15/201309:19:36Omega Advisors 3Q 13F: Holdings As Of Sep 30
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30 -2-

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