Tag: Republic of Ecuador

Occidental Petroleum awarded $1 billion from Republic of Ecuador by arbitrator

Occidental Petroleum’s Block 15 was expropriated by Ecuador in 2006 HOUSTON, Texas – Occidental Petroleum Corporation announced Tuesday that it has reached an understanding with the Republic of Ecuador for the payment of $1 billion after the country expropriated the company’s assets in 2006. The arbitration was awarded in Nov. by the International Centre for Settlement of Investment Disputes […]