Ecopetrol Refi nery Wins $1B Arbitration Case

摘要

Refi car, a refi nery owned by Colombia's largest company Ecopetrol, is set to receive more than $1 billion following an arbitration rulingin its favor against a group of contractors. The International Chamber of Commerce ordered contractor CBI to pay more than $1 billion to Refi car, plus interest gains from Dec.31, 2015, state-owned Ecopetrol said. Refi car sought arbitration in March 2016 amid a dispute with CBI, which it accused of doubling construction costs during therenovation of the refi nery and failings in the engineering, procurement and construction (EPC) contract.