Subscribe free to our newsletters via your
. Space Industry and Business News .




ENERGY TECH
Chevron decries court refusal to block Ecuador fine
by Staff Writers
New York (AFP) Oct 9, 2012


Oil giant Chevron said it was disappointed by the US Supreme Court's decision not to block an $18 billion fine sought by Ecuador for environmental damage in the Amazon.

"While Chevron is disappointed that the court denied our petition, we will continue to defend against the plaintiffs' lawyers' attempts to enforce the fraudulent Ecuadoran judgment," the company said in an email statement.

Chevron Corporation appealed to the highest US court an Ecuadoran court order to pay $18.2 billion, which was raised to some $19 billion in August.

The Supreme Court, in a brief statement, offered no explanation for its decision to not take up the case.

The Ecuadoran complaint stems from years of unchecked pollution in the Amazon attributed to Texaco Petroleum, which Chevron acquired in 2001.

Chevron has called the Ecuadoran court order a "product of bribery, fraud."

"Chevron is being blamed for a situation that is the sole responsibility of the Ecuadoran government and Petroecuador," Ecuador's state-owned oil company which was the majority partner in a consortium with Texaco, the US company says on its website.

The plaintiffs have filed lawsuits in Canada and Brazil to go after the company's assets in third countries, saying Chevron has virtually no assets in Ecuador that could be seized.

Texaco polluted large areas of Ecuador's Amazon jungle when it operated in the region from 1964 to 1990, a decade before being acquired by Chevron, according to indigenous groups and local farmers.

After years of litigation, an Ecuadoran court in February 2011 ordered Chevron to pay $18.2 billion in damages, a ruling upheld by Ecuador's Supreme Court.

Chevron has accused the Ecuadoran judge who ruled on the case of fraud and breach of trust.

The San Ramon, California-based company vowed Tuesday to continue fighting the plaintiffs and their lawyers, saying it would "further expose their misconduct in our pending RICO case in New York and other proceedings."

Chevron has filed a complaint in the US District Court in New York, alleging fraud and violations under the Racketeer Influenced and Corrupt Organizations Act.

On July 31, the New York federal court said it was premature to say that Chevron was entitled to have the damages blocked.

Shares in Dow member Chevron were up 0.2 percent at $117.82 in late-morning trade in New York.

.


Related Links
Powering The World in the 21st Century at Energy-Daily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








ENERGY TECH
What Impact does Oil have on the Syrian Civil War?
Washington DC (SPX) Oct 10, 2012
There is a popular belief in the Middle East that Washington's foreign policy, particularly as it relates to this precarious region, is largely driven by America's dependency on, and insatiable appetite for Arab oil. One can make a good argument for that. Had Syria been a major oil producing country chances are the US would have already dispatched military forces to impose a pax Americana ... read more


ENERGY TECH
'Dishonored' game a whorl of cunning and combat

US politics goes mobile, phones become tool: study

Immersive game showcases new Internet Explorer

Strathclyde takes the lead in space research

ENERGY TECH
Raytheon to provide Joint Tactical Terminal radios with latest security features to US Navy

Northrop Grumman Awarded Contract to Extend BACN Communications Connectivity to the Tactical Edge

Hughes Awarded Custom SATCOM Solutions Contract by GSA

4 SOPS begins testing newest AEHF satellite

ENERGY TECH
SpaceX On Course For Crew Resupply Cargo Delivery To Space Station

SpaceX craft on way to ISS in first supply run

Orbital Begins Antares Rocket Operations at Mid-Atlantic Regional Spaceport

H-IIB Launch Service Privatization

ENERGY TECH
City of Fayetteville Implements an All-in-One Fleet and Transit Management Solution

ATK Propulsion, Composite and Spacecraft Technologies Help Launch GPS IIF-3 Satellite

MundoGEO goes to Germany to participate in Intergeo

Boeing Modernizes GPS Network with 3rd GPS IIF Satellite

ENERGY TECH
Two flights grounded in China after phone threats: airline

Boeing Forecasts Air Cargo Growth Driven by Globalization and Trade

JAL to extend Japan-China flight cuts amid row

Lockheed Martin Announces New Solution to Reduce Airport Congestion and Improve Overall Airspace Efficiency

ENERGY TECH
MIT team builds most complex synthetic biology circuit yet

Origin of ultra-fast manipulation of domain walls discovered

Materials scientists prevent wear in production facilities in the electronics industry

Visionary transparent memory a step closer to reality

ENERGY TECH
SMOS has a better look at salinity

Digital Map Products to Discuss the New Rules for Communicating with Residents

Apple CEO sorry for maps shortcomings

Landslide mapping in the Swiss Alps

ENERGY TECH
Pollution row strangles Italian steel giant ILVA

S. Korean villagers evacuate after toxic leak

Council of war gathers for world's biodiversity crisis

Mobiles phones getting less toxic: researcher




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement