The Rising Influence of Rising Affluence

[ilpapa]

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.

ANP, Brazil’s oil and gas regulator, accused the US 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.<snip>