Chevron May Be Expelled From Brazil After Oil Spill, EFE Says

Chevron Corp. (CVX) may be expelled from Brazil if it doesn’t fulfill its agreement with the government to repair the damage caused by an oil spill off the country’s coastline, EFE reported, citing Energy Minister Edison Lobao.

Lobao said Chevron must pay a 50 million real fine ($27.9 million) and also take the responsibility for the environmental damages, according to the news service.

To contact the reporter on this story: Francisco Marcelino in Sao Paulo at mdeoliveira@bloomberg.net

To contact the editor responsible for this story: Sylvia Wier in New York at swier@bloomberg.net

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