Chevron will pay $740 Million to restore Louisiana's coastline, reports AP
The Associated Press reported that Chevron had been ordered to pay $740m to repair damages caused by the oil and gas giant to the coastal wetlands of southeast Louisiana. Report: The jury's verdict awarded $575,000,000 for compensation for land losses, $161,000,000 for contamination, and $8,000,000 for abandoned equipment. The original lawsuit was filed in 2013 by the Plaquemines Parish in Louisiana. The AP reported that jurors determined that Texaco, a company purchased by Chevron back in 2001, violated state regulations governing coastal resource management by failing to restore wetlands impacted from dredging…
W. Africa Crude Traders Await Sept Programs
Some August-loading Angolan cargoes cleared but trading was slow on Monday as new programs were expected to emerge this week.The preliminary Angolan loading program for September is expected to emerge on Tuesday. New Nigerian programs are expected at the end of the week.BP's August-loading cargo of Girassol, two August-loading cargoes of Mostarda were sold to India's Reliance, China's Unipec and an independent Chinese refiner, a trader said.