• ENGLISH
  • ESPAÑOL
facebook
twitter
  • National>Entertainment
  • National>Local Economics
  • National>Local Politics
  • National>Society
  • National>Sports
BREAKING NEWS
Ecuador adopted three resolutions as president of the UN Security Council
Almost 3,000 commercial connections between China and Ecuador leave ‘Expo China 2023’
Metros in Latin America welcome the Quito Metro
Ombudsman’s Office: 4,000 Venezuelans have entered Ecuador from Peru
Eduardo Peña is delegate to preside over the Board of Directors of the IESS
Daniel Noboa and the new Military Chief talk about a war against organized crime
Supermarkets and restaurants use self-service checkouts
President Daniel Noboa visited the Quito Metro
Assembly installed the new Comptroller General
Vice President Verónica Abad agreed to go to Israel

After remission, heavy crude oil pipelines dismisses arbitration demand

Posted On 28 Mar 2019

Ecuadornews:

Heavy Crude Pipeline withdrew an international arbitration claim filed in March 2018 against Ecuador at the UN, in which it claimed at least $ 250 million from the country.

That demand was filed last March, due to disagreements in tax matters “that have been resolved after an extraordinary fiscal regularization occurred last December (tax remission).”

This was published by El Economista de España, based on the reports of Repsol, a partner company of OCP with 29.6% of the shares, and which were presented to the National Securities Market Commission (CNMV).

Its shareholders also include, in addition to Repsol, other oil companies, such as the Chinese Andes Petroleum and Sinopec, the Brazilian company Petrobras, the Italian company ENI, the French company Perenco and the US company Occidental Petroleum.

The information sent to the CNMV includes the news of the withdrawal of the lawsuit, together with the conclusion of other lawsuits directly maintained by Repsol with the Ecuadorian authorities.

The arbitration referred to the treatment of the subordinated fiscal debt issued to finance the operations of OCP, by the Internal Revenue Service of Ecuador (SRI), which had been in the national courts for about fifteen years. The referral (which was the forgiveness of fines, surcharges and interest on tax debts) occurred in December. A few days ago it was learned that Repsol paid about $ 20 million in profits to its workers. (I)

Source: https://www.eluniverso.com/noticias/2019/03/28/nota/7255667/tras-remision-ocp-da-baja-demanda-arbitral

About the Author
  • google-share
Previous Story

Ecuador studies actions against Assange, based on international law, for WikiLeaks cables

Next Story

Arrested and dead, that is the result of facing the correísmo

SEARCH

LATEST NEWS

ecuador-times-ecuador-news-ecuador-adopted-three-resolutions-as-president-of-the-un-security-council

Ecuador adopted three resolutions as president of the UN Security Council

Posted On 05 Dec 2023
ecuador-times-ecuador-news-almost-3000-commercial-connections-between-china-and-ecuador-leave-expo-china-2023

Almost 3,000 commercial connections between China and Ecuador leave 'Expo China 2023'

Posted On 05 Dec 2023
ecuador-times-ecuador-news-metros-in-latin-america-welcome-the-quito-metro

Metros in Latin America welcome the Quito Metro

Posted On 02 Dec 2023
Copyright © 2010 - 2019. All Rights Reserved. EcuadorTimes.net