Ecuador Ends One Chevron Battle. What Does It Mean for the War?
Low oil prices and a $112 million accord may make settlements in a host of other cases more likely.
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Ecuador last week paid Chevron Corp. $112 million in an arbitration case dating back to the 1970s. The accord, while dealing with obscure contractual matters, could have ramifications for bigger court fights between the two fierce adversaries.
The government of Ecuadorian President Rafael Correa has taken an extremely hostile stance in other, pricier legal battles with the U.S. energy company. The natural question to ask is whether the payment signals a softening of the Ecuadorian position in the larger standoffs.