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Chevron Ban Relaxed In Brazil

A Brazil court has eased its ban on Chevron Corporation (NYSE:CVX).

Chevron Ban Relaxed In Brazil

A Brazil court has eased the ban on Chevron Corporation (NYSE:CVX)’s operations in the country and allowed them to continue mitigation and monitoring the impact of its oil spill.

The court said that a total ban would harm the environment as it will bar the company from engaging in the cleanup process. The court earlier ordered the US oil giant to halt its operations as part of the investigation into the November oil spill off the coast of Rio de Janeiro.

It has already paid $17.3 million in fines to the petroleum regulator ANP.

The judge Felix Fischer said in the ruling, “I authorize Chevron Corporation (NYSE:CVX) to maintain only mitigation and observations operations stemming from the accident in the Frade Field under the supervision and coordination of the ANP”.

Chevron Corp. (NYSE:CVX) shares are currently standing at 117.96.

Chevron Ban Relaxed In Brazil
Price History
Last Price: 117.96
52 Week Low / High: 86.68 / 118.53
50 Day Moving Average: 112.95
6 Month Price Change %: 8.3%
12 Month Price Change %: 26.6%

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