Chevron, Transocean face second $11 billion Brazil lawsuit

Jeb Blount – Reuters, 04/03/2012

Brazilian federal prosecutor Eduardo Santos de Oliveira speaks during a news conference, as he discusses the oil leak around Chevron's deep-sea well, in Rio de Janeiro March 21, 2012.
Credit: Reuters/Sergio Moraes

A Brazilian federal prosecutor on Tuesday launched his second 20 billion real ($10.9 billion) lawsuit against U.S. oil company Chevron (CVX.N) and driller Transocean (RIGN.VX), doubling the stakes against the companies as critics call him as overzealous.

The new lawsuit, the prosecutor’s second civil case against the companies in less than five months, is related to an oil leak discovered on March 4 in Chevron’s offshore Frade field northeast of Rio de Janeiro, the Federal Public Prosecutor’s office said in an email.

The new lawsuit, filed in federal court in Campos, north of Rio de Janeiro, also seeks to prevent Chevron and Transocean from operating in Brazil, transferring Brazilian profits overseas, obtaining government-backed finance and moving equipment from the country, the statement said.

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