Chevron’s brazil unit says regulator anp shut in one production well
San ramon, calif.--(business wire)--chevron brasil upstream frade ltda announced today it has been ordered by brazil’s national petroleum agency (anp) to shut in one of its 11 production wells and four produced water injection wells at its off-shore frade joint-venture floating production-storage and offloading (fpso) facility. the move by the anp follows the agency’s nov. 23 to 25 safety audit of the frade fpso, the company said. the production well cited by the anp accounts for less than 10 percent of frade’s total production of about 79,000 barrels per day. chevron respects the decisions of the anp and will respond appropriately to the agency’s requests for clarification. all frade production and injection wells are safe and secure. chevron continues to fully inform and work with brazilian government agencies to address their specific issues on our activities in brazil. with regard to the reported existence of hydrogen sulfide gas as the basis for requesting the well be shut in, chevron clarifies that it conducts regular monitoring of the substance, a natural byproduct of the oil and gas production process, and the company has safety systems and processes in place to ensure the safety of employees, contractors and the operations at all times. chevron is confident it will successfully respond to the anp’s concerns and be able to resume operation of its production and injection wells in due time. chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. the company is involved in virtually every facet of the energy industry. chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. chevron is based in san ramon, calif. more information about chevron is available at www.chevron.com.
CVX Ratings Summary
CVX Quant Ranking
You've reached your free article limit.
Want To Read More Articles?
See what it all means for your stocks with premium tools
Stockprices is a weekly video covering what moved markets
this week, featuring a panel of Stockprices editors. It is published by the
close of trading on Fridays. Hosted by Nathaniel E. Baker, contributing editor,
and featuring: Aaron Task, VP Contributor Content and co-host Stockprices's Alpha
Trader podcast; Brad Olesen, VP News; Steve Alpher, Managing Editor News, co-host
Alpha Trader.
Unsubscribe From All
You successfully activated
“Only Essentials”
Confirm Upgrade
Your subscription will be moved to the annual plan. Service will automatically renew unless cancelled. No Refunds. Click upgrade to confirm.
Stockprices uses Plaid to connect you account
Connect effortlessly
Plaid lets you securely connect your financial accounts in seconds
Your data belongs to you
Plaid doesn't sell personal info, and will only use it with your permission