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Chevron told to pay $740 mn to restore Louisiana coast in landmark case

Business Standard LogoBusiness Standard15h ago

Chevron told to pay $740 mn to restore Louisiana coast in landmark case - Business Standard

Quick Summary:

Oil company Chevron must pay more than $740 million to restore damage it caused to southeast Louisiana's coastal wetlands, a jury ruled on Friday following a landmark trial more than a decade in the making.

The case was the first of dozens of pending lawsuits to reach trial in Louisiana against the world's leading oil companies for their role in accelerating land loss along the state's rapidly disappearing coast.

The verdict - which Chevron says it will appeal - could set a precedent leaving other oil and gas firms on the hook for billions of dollars in damages tied to land loss and environmental degradation.


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Article Details

Category: BusinessFinance

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-05 @ 13:06:56 (15 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 1256 words

Reading Time: 7 minutes read

Sentences: 48 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 27598156

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About Business Standard

Business Standard Logo

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 129 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 4 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

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  • URL: https://beamstart.com/news/chevron-told-to-pay-740-17438392392747

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