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Brazil Is Making an Example of Chevron
Barrett & Millard, BusinessWeek
Last Nov. 7 something went wrong at a deep-sea oil well operated by Chevron (CVX) 230 miles northeast of Rio de Janeiro. As a massive drill bit punctured reservoir N560, roughly 3,500 feet beneath the ocean floor, monitors revealed pressure much higher than technicians expected. The next day a routine flyover of the field, called Frade, in the Campos Basin, revealed oil on the water's surface.
Last Nov. 7 something went wrong at a deep-sea oil well operated by Chevron (CVX) 230 miles northeast of Rio de Janeiro. As a massive drill bit punctured reservoir N560, roughly 3,500 feet beneath the ocean floor, monitors revealed pressure much higher than technicians expected. The next day a routine flyover of the field, called Frade, in the Campos Basin, revealed oil on the water's surface.
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