Chevron: Ecuador arbitration to stretch to 2014

Arbitration: Chevron says dipute will run at least into 2014

Eduardo Valenzuela / AP

related stories

News Wires

 02 August 2012 18:38 GMT

An international tribunal that will weigh in on Chevron’s two-decade dispute over pollution in Ecuador has set a time line that runs into 2014, according to a regulatory filing on Thursday.

The panel, formed via The Hague's Permanent Court of Arbitration under the UN Commission on International Trade Law, is hearing a dispute over whether Ecuador violated a treaty with the US requiring it to guarantee Chevron a fair trial.

An Ecuador court ruled against Chevron in February 2011. Last week, damages stemming from that hotly contested decision were increased to $19 billion from $18.2 billion.

Chevron said the international tribunal will hear by late November about the scope of a 1998 settlement and release agreement given by Ecuador's government to Texaco, the company that operated in Ecuador, Reuters reported.

Chevron, based in…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index