Enough said—the Campos prosecutor is obviously a grandstander. No wonder the federal Judge is considering moving the case to Rio. From the same article:
No kidding. The bottom line is that Brazil needs companies like Chevron to invest in pre-salt development projects more than Chevron needs Brazil. In due course (IMO), this case will be de-criminalized, Chevron will quietly replace the executives in question, and business will continue. (Chevron has already paid substantial fines.)
CVX (108.95)—which reported 2Q12 earnings today—is basically back to where it was trading before the BS vis-à-vis the politicized oil spill in Brazil began last November (#msg-69034026).
The 2Q12 earnings report today was in-line with CVX’s pre-announcement on July 13 (#msg-77494239).