Chevron Closing In On $150M Brazil Oil Spill Settlement

Law360, New York (December 14, 2012, 8:14 PM EST) -- Chevron Corp. is reportedly willing to pay the Brazilian government $150 million to resolve a pair of $11 billion environmental suits over two major oil spills, and continued work with prosecutors Friday toward reaching a deal.

Rafael Jaen Williamson, who serves as the company's director of corporate affairs in Brazil, said after a public hearing on the spill that the company made the $150 million offer to government prosecutors, according to a report in the Brazilian financial newspaper Valor Economico.

Government prosecutor Gisele Porto said that...
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