Chevron Fined $8 Billion (CVX)

According to Reuters, Chevron CVX has been fined $8 billion by an Ecuadorian court in environmental damages. An Ecuadorean lawyer said that a court in the Amazon city of Lago Agrio ordered the oil giant to pay the fine. The lawsuit originally sought $27 billion in damages. Shares of Chevron are up $1.28 to $97.01, a gain of 1.33%.