SPILL: Chevron's South American Headaches Continue; Brazil Shuts Down Oil Well

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Chevron's (CVX) Brazilian subsidiary was forced to shut in one of its 11 productive oil wells in its Frade field development far off the coast of Rio de Janeiro following a drilling accident there on Nov. 9. The decision by the National Petroleum Agency in Brazil just adds to the U.S. multinational energy company's image problems in South America. On Thursday, Brazil's National Petroleum Agency, or ANP, order a shut in at one of Chevron's deep water Frade wells, which it operates as majority stakeholder from a Floating Production-Storage and Offloading (FPSO) facility with Transocean (RIG).

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