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News Breaks | | | | February 8, 2013 | | 09:03 EDT |  | CVX | Chevron says tribunal finds Ecuador in breach of its obligations
Chevron announced that an international arbitration tribunal issued an award finding that the Republic of Ecuador has violated the Tribunal’s prior Interim Awards authorized under international law and a treaty between the United States and Ecuador by not preventing the attempted enforcement of a $19B judgment against Chevron. In prior rulings, the Tribunal put the Republic on notice that if Chevron’s arbitration ultimately prevails, “any loss arising from the enforcement of (the judgment) may be losses for which the (Republic) would be responsible to (Chevron) under international law.” In its ruling, the Tribunal found that “Neither disagreement with the Tribunal’s orders and awards on interim measures nor constraints under Ecuadorian law can excuse the failure of the (Republic), through any of its branches or organs, to fulfil its obligations under international law imposed by the Treaty, the UNCITRAL Rules and the Tribunal’s orders and awards thereunder, particularly the First and Second Interim Awards on Interim Measures.” In August 2011, a different international arbitration tribunal convened under the BIT awarded Chevron and Texaco Petroleum $96M, plus interest, in a claim against the Republic of Ecuador related to past oil operations. The Tribunal found that Ecuador's courts violated the BIT and international law through their decade-long delays in ruling on certain commercial disputes between Texaco Petroleum and the Ecuadorian government. A court in the Netherlands has upheld the award and Ecuador has filed a second appeal. | |
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News For CVX From The Last 14 Days Check below for free stories on CVX the last two weeks. |
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| May 20, 2013 | | 08:08 EDT |  | CVX | EU to review fracking concerns, Reuters reports
Environmental concerns over the practice of hydraulic fracturing to get at shale gas will be on the EU's agenda this year, EU Energy Commissioner Guenther Oettinger told the German newspaper Die Welt, reports Reuters. Reference Link | | | 05:40 EDT | | CVX | U.S. oil futures rally as many commodities decline, WSJ reports
 Subscribe for More Information | | | May 16, 2013 | | 06:03 EDT | | CVX | YPF, Chevron agree to terms of Argentina shale investment, Reuters reports
Subscribe for More Information | | | May 15, 2013 | | 18:31 EDT | | CVX | Ecopetrol submits highest bids for three exploratory blocks in Brazil
Ecopetrol (EC) announces that it submitted the highest bids for three exploratory blocks in the 11th bidding round carried out yesterday by the ANP of Brazil in Rio de Janeiro. Ecopetrol has a 100% interest in the highest bids for the POT-M-567 and FZA-M-320 blocks and a 50% interest in the highest bid for the CE-M-715 block, which it submitted with Chevron (CVX) Brasil Ventures. The three blocks comprise an area of approximately 1,862 sq kilometers in the Potiguar, Foz de Amazonas and Ceara offshore basins. | | | 08:38 EDT | | CVX | WTI crude falls for a fith consecutive day, Bloomberg reports
Subscribe for More Information | | | May 14, 2013 | | 16:00 EDT |  | CVX | Options Update; May 14, 2013
Subscribe for More Information | | | 07:10 EDT | | CVX | IEA says North American oil will dominate world supply growth, WSJ reports
Subscribe for More Information | | | May 9, 2013 | | 14:21 EDT | | CVX | Chevron entitled to damages after U.S. violated pacts, Bloomberg reports
The U.S. Court of Claims ruled that Chevron is entitled to unspecified damages after the Department of Energy violated agreements governing determination of equity interests in oil and gas deposits in California, reported Bloomberg, citing a ruling made public yesterday. Reference Link | | | 11:26 EDT | | CVX | Chevron wins suit alleging Energy Department broke terms of deal, Bloomberg says
Court rules Chevron entitled to unspecified damages, according to Bloomberg. | |
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