Global Processing

Chevron faces $51 million in fines for Brazil oil spill

November 21, 2011

RIO DE JANEIRO — Chevron is facing at least $51 million in fines for its role in an oil spill at an offshore facility in Brazil, Fox News reported.

According to a report Monday in the local Estado de Sao Paulo newspaper, Chevron faces a maximum fine of 50 million reals from environmental regulator Ibama.

In addition, the country''s National Petroleum Agency (ANP) could enforce a fine of at least 30 million reals.

"Chevron takes full responsibility for the incident. We believe that we responded appropriately, and we will continue that response," said George Buck, president of Chevron''s Brazilian operations.