Chevron to pay $155 million for Brazilian oil spill

http://www.rawstory.com/rs/2012/12/15/chevron-to-pay-155-million-for-brazilian-oil-spill/



Chevron to pay $155 million for Brazilian oil spill
By Agence France-Presse
Saturday, December 15, 2012 18:30 EST

US oil giant Chevron has agreed to pay 310 million reales ($155 million) to Brazil for an oil spill last year that fouled beaches in Rio de Janeiro, officials said Saturday.

Government news service Agencia Brasil said 90 million reales would be used exclusively for environmental cleanup and 220 million reales would serve for measures to prevent future spills.

Federal prosecutor Gisele Porto said that the fine should send a message to all oil producers that “it is better to invest in preventive measures than to pay a fine for polluting.”

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The November 2011 spill saw some 3,000 barrels of crude soil the waters of the Atlantic near the Frade oil field, located some 370 kilometers (230 miles) northwest of Rio.