Region: Ecuador

Oxy agrees to settle dispute with Ecuador oil block partner

Occidental Petroleum says it has reached a preliminary settlement with its Chinese former partner in an Ecuadorean oil block to settle a long-running fight over the proceeds of an ICSID award.

13 February 2024

Ex-prosecutors: arbitrators’ corruption findings against Worley will interest DOJ

Australian engineering company Worley has not only lost a recent US$175 million arbitration against Ecuador, it has likely invited the US Department of Justice to scrutinise whether the company bribed foreign officials, two former US prosecutors told GAR’s sister publication Global Investigations Review (GIR).

19 January 2024

Ecuador beats refinery claim with corruption defence

Ecuador has applied to enforce a costs award after defeating a US$145 million treaty claim brought by an engineering company that was found to have engaged in corruption.

02 January 2024

Ecuadorean state entity settles oilfield dispute with Sinopec

Petroecuador has agreed to partially pay a US$64 million UNCITRAL award won by Chinese state-owned energy group Sinopec over three Amazonian oilfields.

07 December 2023

Ecuador loses final appeal over Chevron denial of justice award

The Dutch Supreme Court has rejected Ecuador’s challenge to an investment treaty award that found Chevron was denied justice when a local court ordered it to pay US$9 billion for environmental pollution.

22 November 2023

Oxy asks US Supreme Court to rule on evident partiality

Occidental Petroleum has asked the US Supreme Court for leave to appeal the recognition of a US$560 million award based on an arbitrator’s failure to disclose an alleged relationship with a member of the other side’s counsel team.

16 November 2023

Russian group wins damages over Ecuador hydro project

Russian state-owned energy group Inter RAO has won US$45 million in an arbitration against an Ecuadorean state entity over a terminated contract to install components at a hydroelectric power project.

13 September 2023

Oxy loses further claim against Amazon oil block partner

An ICDR tribunal has thrown out a US$310 million claim by Occidental Petroleum against its Chinese former partner in an Ecuadorean oil block, finding it was barred by res judicata because of an earlier award.

09 August 2023

Oxy loses appeal over payout to Amazon oil block partner

A US appeals court has dismissed Occidental Petroleum's challenge to an award requiring it to share the proceeds of an ICSID settlement with its former partner in an Ecuadorean oil block.

16 June 2023

Panel in place for US investor's claim against Ecuador

A panel is in place at the Permanent Court of Arbitration to hear a claim brought against Ecuador by a US company linked to casino investors.

15 June 2023

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