ADVFN - Advanced Financial Network.
HOME» NYSE » T » RIG Stock Price » RIG Stock News

Transocean Share News

 Transocean Ltd Stock Price
RIG Stock Price
 Transocean Ltd Stock Chart
RIG Stock Chart
 Transocean Ltd Stock News
RIG Stock News
 Transocean Ltd Company Information
RIG Company Information
 Transocean Ltd Stock Trades
RIG Stock Trades

Brazil ANP Chief: Transocean Operation Suspension Unjustified

SAO PAULO--The head of Brazil's national petroleum agency, ANP, said Thursday the suspension of operations by Transocean Ltd. (RIG) in the country wasn't justified. Magda Chambriard, head of the ANP, said during a Senate hearing that irregularities in the company's activities found by a Brazilian court were "light" and they "weren't reason for the discontinuing of the company's operations," according to comments posted on the Senate's website. A Brazilian court on Wednesday ordered Chevron Corp. (CVX) and Transocean to halt their activities in Brazil in 30 days or face daily fines of 500 million Brazilian reais ($250 million). The court decision is part of ongoing cases related to a drilling accident last November at the Chevron-operated Frade offshore oil field. The accident caused an estimated 3,700 barrels of crude to seep from cracks in the seabed. Chevron voluntarily halted production at the field in March, when a second set of seepage was discovered at the field. While disagreeing with the court's decision relative to Transocean, Chambriard said Chevron could have avoided the accident "if the company had followed ANP's norms for operational safety." In a statement late Thursday, the ANP said it would review the court's decision to determine if it requires any action from the agency. While the injunction could complicate Chevron's efforts to get production at Frade restarted, it would likely have a greater impact on Transocean, which operates 10 drilling rigs in Brazil, including seven for state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR). Transocean also has single rigs leased out to Eni SpA (E, ENI.MI), BP PLC (BP, BP.LN) and Vanco. Write to Paulo Winterstein at paulo.winterstein@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Transocean (RIG)
DateTimeHeadline
06/26/201510:20:05Current Report Filing (8-k)
06/22/201516:33:01Current Report Filing (8-k)
06/22/201516:22:28Transocean Ltd. Provides Fleet Update Summary
06/18/201510:29:043 Stocks to Watch in Oil and Gas Drilling
06/16/201513:00:03The 3 Best Stocks to Watch in Offshore Drilling
06/12/201509:05:023 Stocks to Watch in Deep-Sea Drilling
06/11/201516:04:02Analysts Debate: Is Seadrill Ltd. a Value or a Value Trap?
06/11/201509:58:02Offshore Drillers: 3 Big Risk Factors That Could Send Share Prices...
06/10/201509:00:04U.S. Stock Futures Rise
06/07/201511:01:023 of the Best Stocks to Invest in Offshore Drilling
06/02/201521:04:03TIAA-CREF: What This $8.6 Billion Trust Has Been Selling
06/01/201517:21:05Statement of Changes in Beneficial Ownership (4)
06/01/201517:16:20Initial Statement of Beneficial Ownership (3)
05/27/201518:03:04Transocean Hires Mark May as CFO
05/27/201516:41:06Current Report Filing (8-k)
05/27/201516:36:03Transocean Ltd. Announces Departure of Esa Ikaheimonen; Appoints...
05/24/201511:00:03Oil Stocks: 2 to Avoid, and 1 to Buy
05/22/201517:00:03Should You Follow Goldman Sachs Advice on Oil Stocks?
05/22/201512:04:02The 3 Best Stocks to Invest in to Profit From Rising Dayrates
05/21/201515:32:28Securities Registration: Employee Benefit Plan (s-8)

Transocean and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad