Chevron pays fine for Brazil oil leak

San Ramon-based Chevron paid $17 million for several "irregularities" in connection with last year's oil spill off the coast of Rio de Janeiro, Brazil's National Petroleum Agency said.

The agency said in a statement posted on its website that Chevron paid the $17.3 million fine for 24 out of 25 irregularities. The nature of the issues wasn't disclosed. Chevron confirmed it paid the fine.

The November 2011 leak is believed to have released about 155,000 gallons of crude oil.

"Chevron Brazil will implement a number of process improvements developed from lessons learned in the Frade incident," Chevron stated in a release emailed to this newspaper. "Chevron Brazil respects and complies with the laws of the countries in which it operates. The company continues to engage openly and transparently with all Brazilian authorities and regulatory agencies."

Alameda County lands $63 million in funds

Alameda County will receive about $63 million over four fiscal years in federal funds for transportation investments.

The financing came from the One Bay Area Grant program.

The transportation cash can be used to improve local streets and roads, bicycle and pedestrian projects, and transit-oriented development.

The program supports California's climate law, SB 375, which requires a "Sustainable Communities Strategy"

Tesla prices secondary stock offering

Palo Alto-based Tesla Motors (TSLA) has priced its follow-up offering of 6.9 million shares of common stock at $28.25 per share.

At those prices, the offering raised roughly $195 million.

The price represents a less than 1 percent discount to the electric car company's Thursday closing stock price of $28.49. Tesla also granted the offering's underwriter, Goldman Sachs, a 30-day option to buy up to an additional 1 million shares of common stock.

Tesla is selling all of the shares in the offering, which is expected to close on or about Wednesday, the company said.

As part of the offering, Tesla CEO and co-founder Elon Musk has said he will buy up to 35,398 shares of common stock at the public offering price for a total of about $1 million.

BioTime forms unit to undertake acquisitions

Alameda-based BioTime has formed a special company that will handle acquisitions for the life sciences company.

The new entity is BioTime Acquisition. It will seek to buy assets and businesses in the stem cell and regenerative medicine fields

Thomas Okarma, former CEO of Geron, was appointed CEO of the new acquisition firm.

-- Staff