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Andean Group - July 2016 (ISSN 1741-4466)
ECUADOR: Chevron wins key battle in the war
Ecuador paid US$112m (US$96m plus interest) to the US oil giant Chevron on 22 July. The payment was for an arbitration case, which is part and parcel of the longest environmental lawsuit in history, beginning in 1973 when Texaco Petroleum Co, later acquired by Chevron, began developing oil fields in the Amazonian region of the country. This constitutes a relatively minor skirmish in the war between Ecuador and Chevron. The big battle is over Texaco’s despoliation of the Amazon and damages sought by Ecuadorean villagers and indigenous people who suffered from it.
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