Chevron, Transocean Told To Stop Drilling Amid Spill Probe

Law360, New York (August 1, 2012, 2:27 PM EDT) -- Chevron Corp. and Transocean Ltd. on Tuesday were ordered to halt all their operations in Brazil within 30 days while the government investigates two oil spills that triggered two $11 billion lawsuits against Chevron.

A Chevron-owned, Transocean-operated offhshore well in the Frade field off the coast of Rio de Janeiro leaked more than 100,000 gallons of oil in November, resulting in a massive crackdown by the Brazilian government. In March, a smaller seep was discovered on the ocean floor near the same area.

Kurt Glaubitz, a...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.