The Ecuadorian government said Occidental Petroleum deserves no compensation for the cancellation of its massive oil concession in the Amazon region, arguing that the decision was taken after the U.S. company broke the law and its contractual obligations by handing over a stake in that project to a Canadian firm.
Chevron has submitted a legal motion and supporting authorities to dismiss a lawsuit that was filed by the government of Ecuador in an attempt to block a Chevron arbitration claim made under international treaty la
Now, Texaco is asking a panel of United Nations Commission on International Trade Law, which works in cooperation with the World Trade Organization, to release it from environmental liability, the communities say.
The government of Ecuador asked a US court on Friday to intervene in its long-running environmental battle with oil giant Chevron Corp.
Occidental is seeking $3.2 billion in damages for Ecuador’s May 2006 decision to cancel the company’s operating contract
Ecuador accused Chevron Corp on Thursday of filing an international arbitration claim against the country in an attempt to shield itself against losing a $27 billion environmental damage lawsuit.
Chevron, the world’s third biggest oil company, said it had filed an international arbitration claim against the government of Ecuador, citing violations of the country’s obligations under the US-Ecuador bilateral investment treaty, investment agreements and international law.
Exiting ICSID and joining ALBA and UNASUR,along with the customs restrictions it applied on its CAN neighbours, are the recent measures that have been taken by the government of Ecuador to demonstrate that there is an alternative trade policy.
Ecuadorean President Rafael Correa said his country won’t keep negotiating a commercial agreement with the European Union until the trade bloc complies with World Trade orders to cut duties on Ecuadorean bananas.
Analysis of the third round of egotiations of a free trade agreement (FTA) between the EU and the Andean countries (Ecuador, Peru and Colombia).
"I reiterate, we’re not negotiating a free trade agreement with the European Union."
President says agreement threatens social advances
Negotiations toward a trade-opening deal between the EU and a group of Andean countries hit another snag this week when Ecuador’s president publicly denounced the talks, calling them ‘biased’.
Ecuador will not sign a free trade deal with the European Union, President Rafael Correa said, criticizing the tenor of talks between the two. The European Union can give whatever pretty name it wants, but we are headed toward a free trade agreement, and we will not accept that, Correa said on Saturday.
Peruvian, Colombian and Ecuadorian officials will hold meetings with the European Union next week for a Free Trade Agreement. The discussion on intellectual property is seen as one of the most sensitive in the negotiations, because the Europeans have demanded an extension of the terms for the copyrights and data protection.
Intellectual property, a potential regional customs union, human rights, and bananas triggered heated debate last week in Bogota during the first round of negotiations toward a free trade agreement between the European Union and Andean nations Colombia, Ecuador and Peru.
The FTA will not be negotiated taking the three Latin American countries as a block. The new format designed for the negotiations is an unique multi party agreement in which each country’s particular interests will be taken into consideration regarding specific products, but all framed within the same agreement.
Ecuador President Rafael Correa approved negotiation of a bilateral agreement with the European Union because of the impossibility to do it in a block through the Community of Andean Nations.
A tribunal has determined that it holds jurisdiction to hear a claim brought by Chevron Corporation against Ecuador for alleged violations of the Ecuador-United States bilateral investment treaty (BIT).
When the government of Ecuador failed to make a scheduled interest payment on private bonds this month, it was hardly the first time a country had defaulted in the middle of a financial crisis.