• ENGLISH
  • ESPAÑOL
facebook
twitter
  • National>Entertainment
  • National>Local Economics
  • National>Local Politics
  • National>Society
  • National>Sports
BREAKING NEWS
Ecuador will sell animal feed to Colombia because of landslide
Alexis Mera gets pre-release after three and a half years in prison
Jorge Glas Unification of Sentences Granted
Ecuador declares illegal mining a threat to state security
International Reserves registered their highest level since the start of dollarization
Government denounces 28 candidates for links to drug trafficking
Constitutional Court dismissed the 7 members of the Council for Citizen Participation and Social Control
Ecuador imported the historic figure of USD 7,646 million in fuels
An Andean bear is released into its habitat after two years in captivity
Ecuador gets ready to vaccinate birds and counter avian influenza

Ecuador will pay $ 980 million for compensation to Oxy

Posted On 10 Jan 2016

 

Image: El Universo

Image: El Universo

Ecuador will pay 980 million dollars to the US oil company Oxy until April this year, after the sentence imposed by a court of arbitration of the World Bank for canceling an extraction contract in 2006, reported Saturday President Rafael Correa.

“The arbitration award was 1,400 million. We will pay 980 million, grosso modo. The discount is 420 million,” Correa said during his weekly address.

Last November, the Attorney General´s office of Ecuador had indicated in a statement that the sentence provided for “a net amount payable of USD 1.061.775.000.” On Saturday, Correa said that the ruling was 1,400 million dollars, without providing details on the increase in the figure.

Source: http://www.eluniverso.com/noticias/2016/01/09/nota/5333971/ecuador-pagara-980-millones-oxy-indemnizacion

About the Author
  • google-share
Previous Story

“El Chapo” Guzman is recaptured in Mexico

Next Story

The adjustment of electricity bills take its toll on 24,000 companies

SEARCH

LATEST NEWS

Ecuador will sell animal feed to Colombia because of landslide

Posted On 27 Jan 2023

Alexis Mera gets pre-release after three and a half years in prison

Posted On 27 Jan 2023

Jorge Glas Unification of Sentences Granted

Posted On 27 Jan 2023
Copyright © 2010 - 2019. All Rights Reserved. EcuadorTimes.net