Transocean Given Month to Halt Brazil Operations After Spill
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Transocean Ltd., the world’s largest offshore drilling company, was ordered by a Brazilian court to cease within 30 days operations in the country, where it supplies eight rigs to Petroleo Brasileiro SA, Latin America’s largest oil producer by market value.
Transocean “is vigorously pursuing the overturn or suspension of the preliminary injunction, including through an appeal to the Superior Court of Justice,” Transocean said in a statement distributed by Marketwire. “Absent relief from the courts, Transocean will be required to comply.”