George Buck News
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Last Nov. 7, something went wrong at a deep-sea oil well operated by Chevron Corp. 230 miles (370 kilometers) northeast of Rio de Janeiro.
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George Buck III, the head of Chevron Corp. in Brazil, and Michel Legrand, head of Transocean Ltd. in the country, were among 17 executives at the two companies barred from leaving Brazil by a judge investigating an oil spill, according to an e-mailed statement from the prosecutors’ office today.
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The chief executive officers of Chevron Corp.’s and Transocean Ltd.’s Brazilian units are among 17 executives at the two companies banned from leaving the country pending an investigation into an offshore oil spill.
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Chevron Corp., the second-largest U.S. energy company, said it is reducing the amount of oil leaking from a project off the coast of Brazil after plugging the source of the spill on Nov. 13.
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A judge in Brazil barred 17 Chevron Corp. and Transocean Ltd. executives yesterday from leaving the country after a new leak near an offshore oil well that spilled 110,000 gallons (416,395 liters) last year, the Associated Press reported.
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Chevron Corp., Transocean Ltd. and 17 of the companies’ executives were formally accused by Brazilian federal prosecutors of environmental crimes in an oil leak off Rio de Janeiro’s coast.
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A second oil spill off the Brazilian coast in a field operated by Chevron Corp. last week has revived lawmakers’ efforts to open a congressional probe of the company, lower house Deputy Aluizio dos Santos said.
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Brazil’s petroleum regulator is considering revoking Chevron Corp.’s exploration contract after finding the U.S. oil producer could have avoided a 3,000-barrel spill off Rio de Janeiro’s coast.
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Chevron Corp. runs the risk of having its oil exploration contract canceled in Brazil after regulators found it could have avoided a 3,000-barrel spill off Rio de Janeiro’s coast.
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The U.S. Securities and Exchange Commission appealed a federal judge’s decision to reject its proposed $285 million settlement with Citigroup Inc.
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