Brazilian Judges Uphold Operating Ban on Chevron and Transocean

Rejecting arguments from oil giant Chevron and its drilling contractor Transocean, as well as from the Brazilian government's own ANP (Agência Nacional do Petróleo, Gás Natural e Biocombustíveis), a Brazilian judicial panel has upheld the ban which prohibits Chevron and Transocean from operating while charges over last November's oil spill are considered.  

According to an article in "Reuters," the ban could cost Chevron and Transocean hundreds of millions of dollars, as well as disrupting Petrobras' operations, since it also leases drilling equipment from Transocean.

The three-judge panel was particularly harsh in its judgment of the role of the ANP, with one judge stating from the bench that the agency had "contributed to the accident by failing to do its job as a regulator."