ISDS Case Map
Ecuador
US oil company wanted EU-US trade deal to give foreign investors the legal right to challenge government decision, documents show
The Oxy II awards subvert the notion of sovereignty: by whom and how a country’s natural resources are used becomes a minor question as long as wealth is maximised.
A research provides a set of pragmatic tools for governments on the receiving end of legal claims.
The ruling from the District Court of the Hague in favor of U.S. oil giant Chevron effectively exonerated the company from any responsibility for remediating the contamination in the Amazon.
President Rafael Correa announced that Ecuador has reached a payment plan with the US oil company, Occidental (Oxy)
Ecuador paid $100M on Dec. 21; will pay another $100M on Jan. 15; $100M on Jan. 31; $200M on Feb. 29; $300M on March 31; and the remainder on April 29.
The resolution calls for an international forum on the implementation of measures to better protect the rights of sovereign countries from exploitative multinationals.
Perenco Ecuador Limited (Perenco)—a French-owned oil and gas company—and the Republic of Ecuador have been involved in arbitration since 2008 under the France–Ecuador bilateral investment treaty (BIT).
President Rafael Correa said that Ecuador had "practically" reached agreement on the payment of compensation to U.S. oil company Occidental Petroleum.
Ecuador has been partially relieved of its debt to Occidental, which constitutes a pretty legalistic and conservative application of property rights by a state appointee dissenter.
