Ecuador, Oxy Near Arbitration Deal

摘要

Ecuador is in the final stages of an agreement with Occidental Petroleum to pay the roughly $1 billion required by a World Bank tribunal for seizing the company's assets, President Rafael Correa was quoted on Friday as saying. In 2012, the International Center for Settlement of Investment Disputes awarded Occidental $1.77 billion. The award was cut by 40% earlier this month ( OD Nov.3'15 ).