Brazil ban on Transocean company

By Finance

The drilling contractor Transocean Ltd has to stop operations in 30 days because Brazilian court served a preliminary injunction.
The actions taken from the federal court are a result from an oil spill November 2011. In the incident are involved Chevron and Transocean companies.
Civil lawsuits for $20bn in damages from Transocean and Chevron started, that is the other reason of the ban.
3, 600 barrels of oil leaked in the sea off Brazil last year.
Transocean has 8 rigs working for Petrobras.
Petrobras is on the side of Transocean and hope that this company will stay in Brazilian waters.
The consequences of stopping operations from Transocean will be bad for the business in Brazil and Petrobras.