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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
08/25/201617:09:50Transocean Ltd. to Present at Barclays CEO Energy-Power Conference
08/23/201605:54:00Transocean Drilling Rig Refloated After Running Aground
08/15/201617:26:47Securities Registration: Business Combination (s-4)
08/10/201614:20:00Diesel Fuel Leaking From Grounded Oil Rig in U.K.
08/10/201614:06:00Diesel Fuel Leaking From Grounded Oil Rig in U.K.
08/09/201617:14:00Oil Rig Washes Aground on Scotland Shore -- Update
08/09/201615:10:00Oil Rig Washes Aground on Scotland Shore
08/09/201614:59:00Oil Rig Washes Aground on Scotland Shore
08/03/201618:30:00Transocean's Profit Drops, but Results Top Expectations
08/03/201618:20:00Transocean's Profit Drops, but Results Top Expectations
08/03/201616:31:11Current Report Filing (8-k)
08/03/201616:30:24Transocean Ltd. Reports Second Quarter 2016 Results
08/02/201617:08:00Transocean Files 8K - Regulation FD
08/02/201616:39:07Current Report Filing (8-k)
08/02/201616:33:04Transocean Ltd. Announces Final Results of Cash Tender Offers
08/02/201603:03:00Driller Transocean to Buy Back Partnership in $514 Million Deal...
08/01/201609:51:00Transocean Files 8K - Entry Into Definitive Agreement
08/01/201609:51:00Transocean Files 8K - Regulation FD
08/01/201609:22:21Current Report Filing (8-k)
08/01/201609:00:00Transocean to Buy Rest of Transocean Partners in $514 Million...

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