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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
02/11/201619:01:00Transocean Files 8K - Regulation FD
02/11/201616:51:08Transocean Ltd. Provides Fleet Status Report
02/10/201616:28:52Amended Statement of Ownership (sc 13g/a)
02/08/201616:15:36Transocean Ltd. Announces Fourth Quarter, Full Year 2015...
02/08/201600:57:56Transocean Ltd. Announces Customer Early Terminates The Discoverer...
01/27/201615:59:17Amended Statement of Ownership (sc 13g/a)
12/28/201500:56:25Transocean Ltd. Announces Customer Early Termination of Polar...
12/17/201518:56:31Transocean Ltd. Announces SIX Swiss Exchange Approves Delisting
12/17/201516:24:13Transocean Ltd. Announces Customer Early Terminates The Discoverer...
12/10/201508:46:03Amended Statement of Ownership (sc 13g/a)
12/07/201511:19:44Amended Statement of Ownership (sc 13g/a)
12/07/201509:18:00Transocean Files 8K - Regulation FD
12/07/201508:48:37Current Report Filing (8-k)
12/07/201500:55:14Transocean Ltd. Announces Two Year Contract For The Henry Goodrich
12/02/201515:27:40One Investing Mistake You Must Avoid
12/02/201513:40:00BP Supervisor Won't Face Manslaughter Charges
11/23/201516:24:00Transocean Files 8K - Other Events
11/23/201515:55:18Current Report Filing (8-k)
11/23/201500:46:33Transocean Ltd. Announces Its Intent to Delist From SIX Swiss...
11/22/201508:02:033 Stocks Retirees Should Avoid

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