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Chevron’s troubles down south

Monday, March 12, 2012

imageReuters updates the troubles facing San Ramon-based Chevron in South America, where the second-largest U. S. oil company has problems all over. It’s facing an $18 billion judgment in Ecuador following decades of pollution by Texaco, which it acquired in 2001. In Brazil, prosecutors are preparing criminal charges against company officials after a massive spill off the country’s coast. And things aren’t swell in Venezuela, either:
Ali Moshiri, Chevron's head of exploration and production in Latin America and Africa, is hailed as a "close friend" by Venezuela's anti-American President Hugo Chavez. But the company's special relationship there might not last. Chavez, who is up for re-election in October, is suffering from pelvic cancer.

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