The decision could set a precedent for similar cases involving mining companies around the world.
Chevron Mining News
Ukraine has two major shale gas production deals with Chevron and Shell.
The accident occurred when a construction crew accidentally drilled into a 10-inch liquefied petroleum gas line.
World-wide protests against shale gas continue.
An Argentine court has ordered to embargo Chevron assets in the South American country to help enforcing an Ecuadorean court resolution that fined the oil and natural gas giant for $19 billion in environmental damages.
Brazil has temporarily banned Chevron from drilling in the country after it caused an oil spill off the coast of Rio de Janeiro, raising doubts about the company’s role in one of the industry’s biggest investment programmes. Late on Wednesday, Brazil’s National Petroleum Agency (ANP) accused the U.S. company of negligence late on Wednesday, announcing it would suspend all of Chevron’s drilling until it clarified the reasons for a spill that released almost 3,000 barrels of oil into the sea earlier this month. Analysts believe that the Brazilian government is keen to make an example of Chevron as a warning to other foreign companies looking to take a share of Brazil’s pre-salt reserves, which are estimated to contain as much as 50bn barrels of oil.
Once considered too expensive and damaging to the land, exploitation of Canada’s oil sands is now a venture worth billions. The country has proven oil reserves of more than 170 billion barrels—second only to those in Saudi Arabia. Much […]