Reuters: Regulatory News: UPDATE 1-Chevron faces problem regaining Brazil drill permit -ANP

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UPDATE 1-Chevron faces problem regaining Brazil drill permit -ANP Jun 6th 2012, 02:02 Tue Jun 5, 2012 10:02pm EDT RIO DE JANEIRO, June 5 (Reuters) - Chevron, the second-largest U.S. oil company, faces problems regaining its Brazilian oil-drilling rights because it has not explained how it plans to "mitigate" problems at an offshore field, Magda Chambriard, Brazil's chief oil regulator, told reporters on Tuesday. Chevron had its Brazilian drilling license suspended by the regulator, known as the ANP, after a November oil spill in the Frade field northeast of Rio de Janeiro. The oil was dispersed and did not reach the coastline. Chevron says it continues to investigate the field's geology and report its findings to the ANP, it said in a statement on Tuesday.

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