VIDEO: Brazil Judge Dismisses Oil Spill Case Against Chevron, Transocean

By Jeb Blount RIO DE JANEIRO (Reuters) – A Brazilian federal judge dismissed a lawsuit against No. 2 U.S. oil company Chevron Corp after approving a negotiated settlement, a decision that closes a nearly two-year legal battle over a November 2011 oil spill. Brazilian prosecutors had sought 40 billion reais ($18 billion) in damages from Chevron and offshore drilling contractor Transocean Ltd for a 3,600-barrel leak in the Frade offshore oil field, which Chevron operates, northeast of Rio de Janeiro. Prosecutors also filed criminal charges against the companies and 17 of their employees. …