Chevron won in arbitration against Ecuador on the issue worth 700 million U.S. cases are not concerned with the environmental damage claims filed by "Quito" against the giant oil company that has offices in the U.S.An international arbitration panel ruled that the court Ecuador "violating international law through their delay in deciding the particular commercial dispute between Texaco Petroleum Company and the government of Ecuador," Chevron said in a statement.
That decision also said that Ecuador violated the Bilateral Investment Treaty between the United States-Ecuador "by failing to determine an effective step in stating the claim and enforce rights."
The award was "solve some of the" seven claims that Texaco, which has been bought by Chevron in 2001, sued in Ecuador between 1991 and 1993.
"This decision shows that the Ecuadorian government is not above the law," kataHewitt Pate, vice president and general advisor to Chevron.
"Chevron" separately sued in Ecuador to the Amazon rain forest damage charges between 1964 and 1990 by Texaco.
Ecuador Government alleges that Chevron throw billions of gallons of waste into the Amazon River, and experts estimate that Chevron in 2008 may be subject to liability for damages worth over 27 billion U.S. dollars.
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