Thursday, December 15, 2011

Rig builders

Rig builders: Spore O&M names likely to see weakness today, after Chevron and Transocean declined 2.9% and 3.9% last night in US trading.
Brazilian prosecutors urged a federal court to halt operations of Chevron and Transocean in Brazil, and pay 20b reais (US$10.7b) in damages after an oil spill last mth.
Chevron, the 2nd largest US crude producer after Exxon Mobil, is being audited by Brazil’s petroleum regulator for the oil leak at the Frade project off the coast of Rio de Janeiro last mth.
Transocean, the operator of the rig at Chevron’s Frade project, “continues to cooperate with the authorities.”
Both SMM and KEP count Transocean amongst their customers.

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