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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