Chevron fined US$28 million, faces Brazil spill backlash

  • Business Premium
  • Tuesday, 22 Nov 2011

RIO DE JANEIRO (Reuters) - Brazil's government slapped Chevron with a $28 million (17 million pounds) fine on Monday for causing an offshore oil spill, and the penalty could rise as the U.S. company faces a political backlash over the accident.

While the leak is relatively small and mostly contained, it has highlighted the environmental risks of tapping Brazil's newfound oil wealth at great depths, and could add to delays in politically sensitive plans to develop the offshore fields.

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