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Chevron to pay $150 million in Brazil oil spill case

Prosecutors had sought up to $20 million in damages in connection with the 3,600 barrel spill

Chevron Corp. has agreed to pay roughly $150 million to settle Brazilian civil lawsuits stemming from a November 2011 oil spill.

The 3,600 barrel spill, which occurred in the Frade oil field near Rio de Janeiro, led to the largest environmental prosecution in Brazil’s history, as prosecutors initially sought up to $20 billion in damages. In August, a three-judge panel in Brazil upheld an injunction banning Chevron and its drilling contractor Transocean Ltd. from conducting business in Brazil.

Alanna Byrne

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