Brazil Sues Chevron, Transocean For $11B Over Oil Spill

Law360, New York (December 14, 2011, 6:30 PM EST) -- A Brazilian federal prosecutor targeted Chevron Corp. and contractor Transocean Ltd. in a lawsuit filed Wednesday over a recent oil spill off the coast of Rio de Janeiro, seeking $11 billion in damages and an injunction suspending the companies' operations in Brazil.

Chevron has taken full responsibility for the spill at the Frade field in the Campos Basin, which was discovered Nov. 8.

Prosecutor Eduardo Santos de Oliveira has requested that the court impose an injunction that would penalize the companies nearly $280 million per day...
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