Chevron Responds to Reported Lawsuit by Federal District Attorney in Campos Brazil

14.12.2011  |  Business Wire

Chevron Corporation (NYSE: CVX) said a Brazilian federal district
prosecutor has told reporters that he will file a civil lawsuit against
Chevron and other companies seeking a reported 20 billion reais ($10.7
billion) in damages, and an injunction stopping Chevron′s activities in
Brazil. Chevron has not received any formal notice of this action.
Chevron also has not received any instruction from the regulatory
agencies with oversight responsibility for our activities in Brazil
regarding suspension of our operations.

From the outset, Chevron responded responsibly to the incident at its
Frade Field and has dealt transparently with all Brazilian
authorities. ?The flow of oil from the source was stopped within four
days and the company continues to make significant progress in
containing any residual oil. ?Chevron has also continued to address the
surface sheen, which is now less than a single barrel. ?There have been
no coastal or wildlife impacts.

Chevron is one of the world′s leading integrated energy companies, with
subsidiaries that conduct business worldwide. The company is involved in
virtually every facet of the energy industry. Chevron explores for,
produces and transports crude oil and natural gas; refines, markets and
distributes transportation fuels and lubricants; manufactures and sells
petrochemical products; generates power and produces geothermal energy;
provides energy efficiency solutions; and develops the energy resources
of the future, including biofuels. Chevron is based in San Ramon, Calif.
More information about Chevron is available at www.chevron.com.