Video: Group Alleges Chevron Hid Scope of Brazil Oil Spill part of Brazil fines Chevron $17.5-million over spill

Video Related To: Brazil fines Chevron $17.5-million over spill

São Paulo : Brazil | almost 2 years ago
EDT Brazilian authorities said Monday they were slapping a $17.5-million (U.S.) fine on U.S. oil firm Chevron Corp...Magda Chambriard, director general of the National Petroleum...
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Group Alleges Chevron Hid Scope of Brazil Oil Spill

The Brazilian Federal Police's environmental affairs division alleges that an oil spill in an offshore field operated by Chevron (CVX) is "far bigger" than the company has stated, the Associated Press reports. The group says there is only one ship being used in the clean up, though Chevron says there are 18 ships being used. The drilling contractor for the well is Transocean (NYSE:RIG). Chevron (NYSE:CVX) has potential upside of 22.2% based on a current price of $99.59 and an average consensus analyst price target of $121.71
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