Venezuela’s opposition leader and self-proclaimed president Juan Guaido plans to appeal a $8.75 billion award issued to ConocoPhillips by the World Bank’s arbitration tribunal last week.
The ICSID ruled against Spain in a case brought by NextEra Energy Inc regarding the US utility’s lost investments in two 49.9-MW concentrated solar power plants.
Venezuela must pay ConocoPhillips more than $8 billion to compensate for the 2007 expropriation of oil assets by the country’s late socialist leader Hugo Chavez, the World Bank ruled.
Shell used the investment agreement between the Netherlands and Nigeria to obtain a lucrative oil field at remarkably good conditions.
In February of 2011 the Ecuadorian Courts delivered an historic verdict, sentencing the Big Oil Corporation Chevron to pay US$9,500 million dollars for its contamination of the Ecuadorian Amazon (1964-1992). However, Chevron hit back via the Investor-State Dispute Settlement system and sued Ecuador.
China-backed coal plants are raising environmental concerns locally.
Pakistan said to have gathered fresh ‘evidence of corruption’ in the procurement of a rental power project (RPP) contract by the Turkish company.
A US coal miner is launching a NAFTA suit against Alberta over its policy to phase out coal in the electricity system by 2030.
The net award for Athena Investments amounts to approx. EUR 11M.
The documents highlight for the first time the pressure placed on the French parliament by a foreign company’s threat to use the ISDS mechanism.
South Korean utility Korea Western Power Company (Kowepo) has begun arbitration proceedings against India for not honoring a fuel supply commitment to a gas-based power plant that it part-owns in western India
The oil business persuaded the White House to keep a number of features of the old NAFTA, including provisions that help protect US oil companies’ investments abroad and allow for tax-free transport of raw and refined products across borders.
Pablo Fajardo, the lead lawyer for the communities who have been fighting for 25 years for compensation for the severe pollution in the amazon region, and Donald Moncayo, one of the coordinators of the organization that has led this campaign talk about the Chevron case.
The fastest-growing exports include inorganic chemicals, mineral fuels and oil (including crude oil) and pharmaceuticals.
Victims of Chevron-Texaco’s pollution of the Ecuadorean Amazon have vowed to fight to protect the ruling which has granted them compensation.
Ecuador will be forced to pay economic reparations to the oil giant. The over 30,000 affected people in the Amazon haven’t received any compensation.
The signatories of this letter wish to express their rejection of this decision and their support for the people of Ecuador and the organizations that have defended the communities affected by Chevron Texaco.
A US arbitration court has rejected a German government petition that said the panel had no right to rule on a damages claim by Sweden’s Vattenfall. Berlin cited a ruling by the Court of Justice of the European Union.
The Spanish group will seek an agreement with the country to recover normality at the Damietta plant.
Some in Lopez Obrador’s team are said to want energy excluded. Negotiators concerned backtracking on oil could derail talks.