• 40 mins Shell Restarts Bonny Light Exports
  • 2 hours Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 8 hours Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 13 hours British Utility Companies Brace For Major Reforms
  • 17 hours Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 19 hours Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 20 hours Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 21 hours OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 22 hours London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 23 hours Rosneft Signs $400M Deal With Kurdistan
  • 1 day Kinder Morgan Warns About Trans Mountain Delays
  • 1 day India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 2 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 2 days Russia, Saudis Team Up To Boost Fracking Tech
  • 2 days Conflicting News Spurs Doubt On Aramco IPO
  • 2 days Exxon Starts Production At New Refinery In Texas
  • 2 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 3 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 3 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 3 days China To Take 5% Of Rosneft’s Output In New Deal
  • 3 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 3 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 3 days VW Fails To Secure Critical Commodity For EVs
  • 3 days Enbridge Pipeline Expansion Finally Approved
  • 3 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 3 days OPEC Oil Deal Compliance Falls To 86%
  • 4 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 4 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 4 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 4 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 4 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 4 days Aramco Says No Plans To Shelve IPO
  • 7 days Trump Passes Iran Nuclear Deal Back to Congress
  • 7 days Texas Shutters More Coal-Fired Plants
  • 7 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 7 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 7 days Chevron Quits Australian Deepwater Oil Exploration
  • 7 days Europe Braces For End Of Iran Nuclear Deal
  • 8 days Renewable Energy Startup Powering Native American Protest Camp
  • 8 days Husky Energy Set To Restart Pipeline

Breaking News:

Shell Restarts Bonny Light Exports

Ecuador Continues Its Defense in Arbitration Commenced By Chevron

Ecuador Continues Its Defense in Arbitration Commenced By Chevron

On March 11, 2010, the Honorable Leonard Sand, U.S. District Court for the Southern District of New York, denied the Republic of Ecuador’s Petition to Stay the pending arbitration commenced by Chevron Corp. under the U.S.-Ecuador Bilateral Investment Treaty.

Chevron commenced the arbitration on September 23, 2009, claiming that Chevron is not being afforded adequate due process in the Ecuadorian courts with respect to an environmental claim currently being litigated between private parties, namely, a group of indigenous citizens of Ecuador and Chevron. Importantly, the plaintiffs in that case first filed their claims in the U.S. federal court in New York in 1993.

From 1993 to 2002, Chevron defended that case by arguing that the claims should be adjudicated in Ecuador rather than in the United States. To obtain dismissal of the environmental case in New York, Chevron agreed to consent to jurisdiction in Ecuador, and to satisfy any final judgment rendered there. Chevron agreed to contest the judgment only in an enforcement hearing, after judgment, under a specified New York law.

By way of Ecuador’s petition to stay the arbitration, the Republic sought to enforce Chevron’s promises to the New York court, promises the court relied upon in dismissing the environmental action in favor of an Ecuadorian forum. Today, while calling some of Chevron’s requested relief “imaginative, “ the court nevertheless declined to stay the arbitration. In so doing, the court emphasized that it was not addressing the merits of Chevron’s arbitration claims, finding only that, in its view, under New York state law, the issues raised by Chevron are matters to be addressed in arbitration.

Once the decision was rendered, the Republic of Ecuador’s Attorney General, Diego García Carrión, stated: “The Republic guarantees all litigants before its courts, including Chevron, procedural due process safeguards, including in litigations against the Government. In recent years, Chevron and its affiliates have in fact obtained money judgments against the Government in Ecuadorian courts. The Republic has not interfered and will not interfere in the pending environmental litigation still pending in Ecuador; it instead will continue to ensure that the judicial processes continue in a fair and impartial manner consistent with the procedural rights afforded all parties.”

The Republic is considering its rights of appeal. The decision of the U.S. District Court does not affect, whatsoever, the arguments to be raised by Ecuador in the Arbitral proceeding, and the ruling does not take any particular position on the issues been claimed by Chevron. The Republic is confident that Chevron’s allegations of misconduct will be rejected in whatever forum they are heard.




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News