Chevron ordered to pay Ecuador $9.51bn on appeal

GMT 02:15 2013 Wednesday ,13 November

Arab Today, arab today Chevron ordered to pay Ecuador $9.51bn on appeal

Arab Today

An Ecuadoran court Tuesday upheld a ruling that US oil giant Chevron was liable for environmental damage in its Amazon basin region by sister company Texaco, but ordered it to pay a reduced $9.51 billion. The Supreme Court upheld a 2012 ruling against Texaco, which operated in the South American nation from 1964-1990, but dramatically reduced the amount to be paid in damages to $9.51 billion from $19 billion, the ruling said.

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