Credit: Shutterstock photoChevron will have to pay Brazil an additional $5.4 million in fines for its oil leak in November .
Brazil's environmental protection agency, Ibama, has levied another fine on top of the $28 million Chevron already faces for leaking 2,400 barrels of oil in the South Atlantic near Rio de Janiero.
The new fines are the result of Chevron's failures to comply with its own emergency plan, the lack of emergency equipment on ships and an initial delay in responding to the oil leak, according to Ibama's website.
Chevron has maintained it responded responsibly and reported with full transparency with the Brazilian officials.
In addition, the U.S. company faces a $11 billion law suit seeking environmental reparations.
Chevron has also had to shut in one of its wells following an inspection of its offshore drilling operations.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
