Ecuador

International tribunal orders Ecuador to pay ConocoPhillips $380 million

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Tribunal also issued a separate decision finding Ecuador entitled to $42 million ConocoPhillips’ wholly owned subsidiary, Burlington Resources Inc., received an arbitration award of $380 million from an international arbitration tribunal, constituted under the International Centre for the Settlement of Investment Disputes (ICSID), for Ecuador’s unlawful expropriation of Burlington’s significant investment in breach of the […]

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Canadian court rejects Ecuadorian judgment against Chevron

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Ecuadorian court judgment being questioned in other jurisdictions as well A Canadian court has ruled that the Ecuadorian judgment against Chevron Corporation cannot be enforced against Chevron Canada Limited, an indirect subsidiary, according to a Chevron press release. The court found that Chevron Canada Limited is a separate entity from Chevron Corporation, not a party to

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Ecuador oil: President says country is losing money on every barrel of oil it produces

News

Ecuador oil sales contribute to 13 per cent of national budget QUITO, Ecuador –  Ecuadoreans are already contending with a rumbling, ash-spewing volcano and rising living costs because they use the appreciating U.S. dollar as their currency. Now they’ve been told that Ecuador’s oil, its principal export and a vital source of government funding, costs more to

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