Brazil Lodges 2nd $11B Suit Against Chevron, Transocean

Law360, New York (April 4, 2012, 12:37 PM EDT) -- Brazilian prosecutors have slapped Chevron Corp. and Transocean Ltd. with a second $11 billion lawsuit over an oil spill, lambasting the duo Tuesday over a leak in Chevron's first oil field development in Brazil that occurred just months after a November spill.

Chevron said March 23 that it had identified a "small new seep" involving two barrels of oil in the Frade field nearly two miles from the 2,400-barrel oil spill in November. According to Chevron, less than one barrel was actually released.

Brazil's Minesterio Publico...
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