• ENGLISH
  • ESPAÑOL
facebook
twitter
  • National>Entertainment
  • National>Local Economics
  • National>Local Politics
  • National>Society
  • National>Sports
BREAKING NEWS
A bacterium protects the lupine from its main threat and would increase grain production in Ecuador
Despite pandemic, air transport of flowers was the second best in eight years
Germany, Ecuador and Ghana concerned about marine plastic pollution
Minister of Government assures that possible links between gangs involved in crimes in Ecuador’s prisons with Mexican and Colombian organizations are being investigated
The judge does not revoke the preventive detention that weighs on Jacobo Bucaram Pulley, but due to a health problem he ordered his house arrest in Guayaquil
Judge dictates preventive detention against three of the 4 detainees in the Isspol case
Low in oil production in Ecuador makes it difficult to take advantage of the so-called ‘super cycle’ of crude prices
Rafael Correa would be behind the riots in the prisons of Ecuador
‘Jorge Chérrez’s companies owe $ 20 million in interest to Isspol’
Ecuador entered the bid for vaccines against covid-19 since July 2020

ICSID gives verdict against Ecuador

Posted On 22 Dec 2012

Over the violation of a bilateral investment agreement and “illegally expropriating” what was done in blocks 7 and 21 in an area of the Amazon, the International Centre for Settlement of Investment Disputes (ICSID) gave verdict against Ecuador, welcoming a lawsuit filed by the oil company Burlington.

Burlington Oil Company in the Ecuadorian Amazon.

Burlington Oil Company in the Ecuadorian Amazon.

The company had launched in 2008 an international arbitration because it believed as illegal the Ecuadorian government’s decision, in the sense of reforming the Hydrocarbons Law and regulating profits generated by rising oil prices. The oil company then said the principle of legal certainty had been broken and froze the exploitation of Blocks 7 and 21.

The ICSID, according to a report from EFE, will resolve at a later stage, the compensation issue to be paid by the government of Ecuador.

About the Author
  • google-share
Previous Story

Where’s Pedro Delgado?

Next Story

Government increases the base salary and the salary of journalists

SEARCH

LATEST NEWS

A bacterium protects the lupine from its main threat and would increase grain production in Ecuador

Posted On 26 Feb 2021

Despite pandemic, air transport of flowers was the second best in eight years

Posted On 26 Feb 2021

Germany, Ecuador and Ghana concerned about marine plastic pollution

Posted On 26 Feb 2021
Copyright © 2010 - 2019. All Rights Reserved. EcuadorTimes.net