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Chevron Corporation (NYSE:CVX): Current price $116.04
The National Petroleum Agency of Brazil will approve Chevron’s restart of output at its Frade field, the site of a November 2011 oil spill, once it settles some “small operational questions.” NPA Director Magda Chambriard said on Tuesday that “The ball is in Chevron’s court.” At this point, there remain no major regulatory hurdles Chevron must overcome, although Ms. Chambriard did not provide a timeline for when crude oil output at the Frade field could be restarted. For its part, the company is working with regulators to restart production at Frade.
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