22 March 2012

BRASIL : Dilma Warns Oil Giants; Feds Charge 17 Execs In Rio Spill; $5.5 Million Bonds Each; Prosecutor Profiled.

     Prosecutor Santos de Oliveira Profiled.

       President Dilma Rousseff has warned potential oil exploration partners to act "responsibly"...in light of a new oil leak located off Rio's famous coast.
       Her lecture came after Campos federal prosecutor Eduardo Santos de Oliveira (below foto) finally revealed charges against 17 Chevron and Transocean employees...from Brasil Chevron boss George Buck...to a lowly geologist...for a 2,400-3,000 bbl  November spill in the potentially rich Frade field.
        Bonds were set at $550,000 each individual and $5.5 million for each company.
        A court must now decide whether to try the executives for 'environmental crimes.'
        Guilty verdicts could bring jail sentences of up to 31 years for some charged.
        The WSJ reports that Chevron assets have been seized...and all its drilling operations have ceased.
       Chevron has yet to pay the $54 million fine levied for the Nov. spill.
      Details of the charges are sending a chill throughout the foreign energy community.