Posted by Pat Sullivan
on July 21, 2009
Central America,
Energy,
Latin America /
1 Comment
By MERCEDES ALVARO
Of DOW JONES NEWSWIRES
July 7, 2009
QUITO — Chevron Corp.’s (CVX) legal battle with indigenous groups in Ecuador appears to be far from over, even if a local court may give an initial ruling by the end of the year.
The $27 billion lawsuit, which started in Ecuador six years ago, is expected to drag out to international tribunals and courts.
Lawyers for the plaintiffs believe an initial verdict could come as early as this year. A Chevron spokesman says that any possible appeals could take decades.
In 2001, Chevron acquired Texaco Inc., which had operations in Ecuador starting in 1964. Texaco had formed a consortium in 1967 with Ecuador’s state-owned oil firm, Petroecuador. Texaco had a 37.5% interest in the venture, and Petroecuador a majority 62.5% stake.
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Tags: Chevron, Ecuador, Energy, Texaco
Posted by Pat Sullivan
on July 15, 2009
Central America,
Energy,
Latin America /
1 Comment
By Darcy Crowe
Of DOW JONES NEWSWIRES
CARACAS (Dow Jones)–The crisis in Honduras is opening a deep rift between U.S. President Barack Obama and his fiery Venezuelan counterpart, Hugo Chavez, four months after they met with a handshake and warm smiles.
The Venezuelan leader is drawing on the ouster of his close ally, Manuel Zelaya, from the Honduran presidency to reawaken the region’s painful memories of U.S. intervention and paint the Obama Administration as complicit in the crisis.
After an initial silence on Washington’s response to the strife roiling the Central American nation, Chavez has started to lambast the U.S. administration with the sort of ferocity he previously reserved for former President George W. Bush.
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Tags: Central America, Energy, Hugo Chavez, Latin America, President Obama
