Big Oil Has a Good Day in Court
If you look at the legal disclosures of almost every company in the oil and gas industry, there is always some sort of ongoing legal battle. This week, though, Chevron and Transocean each had a case fall in their favor. Transocean settled its case regarding the November 2011 oil spill off the coast of Brazil without any financial obligations, and the International Arbitration Tribunal ruled that Chevron is not liable for the environmental damage claims brought against the company in Ecuador for dumping that occurred there by Texaco from the 1960s to the 1990s.
Both of these cases matter for each company, although for very different reasons. In the video below, Fool contributors Tyler Crowe and Aimee Duffy take a look at the impact of these cases and why investors should pay attention to legal proceedings for energy companies.
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The article Big Oil Has a Good Day in Court originally appeared on Fool.com.Fool contributor Aimee Duffy has no position in any stocks mentioned. Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow them both on Twitter @TMFDuffy and @TylerCroweFool, respectively. The Motley Fool recommends Chevron and Petroleo Brasileiro S.A. (ADR). The Motley Fool owns shares of Transocean. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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