Wednesday, April 15, 2026

Ecuador to pay $980 million to Occidental for asset seizure

From Reuters Ecuador has reached a deal to pay Occidental Petroleum Corp roughly $980 million by April to compensate the company for seizing its oil field in the Andean country, the attorney general said on Tuesday evening. Ecuador has negotiated down a 2012 arbitration award from the International Center for Settlement of Investment Disputes requiring it to pay the U.S.-based