Brazil rhetoric against Chevron cools a bit

Steve Gelsi – MarketWatch, 03/26/2012

Chevron  has faced heat in Brazil for leaking about 2,400 barrels of oil from the Frade field 230 miles off the coast of Rio de Janeiro last November, with criminal charges filed last week against the company as well as drilling contractor Transocean RIG +0.41% .

But one analyst is looking at the bright side.

Pavel Molchanov of Raymond James said Monday that Brazilian officials “appear to be softening their language,” against the San Ramon, Calif.-based oil major.

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