In an interview with El Universo, Alfredo Palacio, former president of Ecuador, explained how he handled the Oxy case during his term.
In November, under the then Supreme Court, he began his role in that case, when communicating to the oil company and Petroecuador the expiration of the contract requested by the state prosecutor in August 2004.
“I want to emphasize the economic resources. The oil measures I took: law 42 and the expiration of the Oxy contract. Ecuador won economically. Only in three years we passed from $ 12 billion or $ 14 billion to $ 1,000 million (the payment to the Oxy oil company), in case the Government had to pay, it may take other measures,” Palacio said on the ruling .