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Ecuador, Occidental Prepare For Final Hearing At ICSID

QUITO -(Dow Jones)- The final hearing in the $3.2 billion arbitration case filed against Ecuador by U.S. oil company Occidental Petroleum Corp. (OXY) will be held Thursday, in London, Ecuador's attorney general said Wednesday. Occidental filed the lawsuit for damages for Ecuador's May 2006 decision to cancel the company's operating contract. Ecuador alleged that Occidental broke several of its terms by transferring a 40% stake in its Ecuadorian projects to Canada's Encana Corp. (ECA, ECA.T) without the approval of Ecuador's Energy Ministry. In a press release, Attorney General Diego Garcia said Ecuador hopes the court will reject the company's lawsuit. Occidental filed the claim with the World Bank's International Centre for Settlement of Investment Disputes, or ICSID, in July 2006. Occidental has said that the Ecuadorian government violated the U.S.-Ecuador bilateral investment treaty by illegally nullifying its exploration rights and by expropriating its assets. The Ecuadorian government, meanwhile, said it has followed the law and all contracts with the U.S company. -By Mercedes Alvaro, Dow Jones Newswires; 5939-9728-653; mercedes.alvaro@dowjones.com

Stock News for Occidental Pet (OXY)
DateTimeHeadline
02/04/201617:34:25Statement of Changes in Beneficial Ownership (4)
02/04/201608:40:00Occidental Petroleum Loss Widens
02/04/201608:34:00Occidental Petroleum Loss Widens
02/04/201607:06:38Current Report Filing (8-k)
02/04/201607:00:00Occidental Petroleum Announces 4th Quarter 2015 Results
01/28/201615:36:02Statement of Changes in Beneficial Ownership (4)
01/28/201614:03:36Statement of Ownership (sc 13g)
01/21/201618:40:07Statement of Changes in Beneficial Ownership (4)
01/19/201609:26:02Current Report Filing (8-k)
01/19/201609:00:00Occidental Petroleum and the Republic of Ecuador Reach Understanding...
01/14/201615:40:08Statement of Changes in Beneficial Ownership (4)
01/10/201619:29:00Investors Gain Greater Clout Over Boards
01/08/201609:00:00Occidental Petroleum 4th Quarter Results to be Announced Thursday...
01/07/201615:49:43Statement of Changes in Beneficial Ownership (4)
12/31/201513:54:03Statement of Changes in Beneficial Ownership (4)
12/25/201505:59:00Energy Companies Gird for Weaker Prices in 2016
12/24/201511:47:00Statement of Changes in Beneficial Ownership (4)
12/17/201517:27:00Statement of Changes in Beneficial Ownership (4)
12/10/201518:38:32Statement of Changes in Beneficial Ownership (4)
12/10/201510:56:00Occidental Petroleum Promotes Vicki A. Hollub to President...

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