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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
09/22/201616:03:02Statement of Changes in Beneficial Ownership (4)
09/15/201617:45:01Statement of Changes in Beneficial Ownership (4)
09/08/201614:44:29Statement of Changes in Beneficial Ownership (4)
09/01/201615:51:04Statement of Changes in Beneficial Ownership (4)
08/31/201612:51:00Correction to Tuesday's Maxus Energy Story
08/30/201615:47:00Maxus Energy Defends Environmental Settlement With Parent
08/25/201615:13:35Statement of Changes in Beneficial Ownership (4)
08/18/201615:46:15Statement of Changes in Beneficial Ownership (4)
08/15/201621:40:00YPF Can Finance Maxus' Bankruptcy Plan, Judge Says
08/11/201616:03:36Statement of Changes in Beneficial Ownership (4)
08/04/201617:46:45Statement of Changes in Beneficial Ownership (4)
08/03/201617:13:58Quarterly Report (10-q)
08/03/201610:40:00Occidental Petroleum Swings to a Loss as Revenue Falls
08/03/201610:19:00Occidental Petroleum Swings to a Loss as Revenue Falls
08/03/201607:02:38Current Report Filing (8-k)
08/03/201607:00:00Occidental Petroleum Announces 2nd Quarter 2016 Results
07/28/201616:24:49Statement of Changes in Beneficial Ownership (4)
07/25/201618:29:59Statement of Changes in Beneficial Ownership (4)
07/25/201618:27:55Statement of Changes in Beneficial Ownership (4)
07/21/201614:53:49Statement of Changes in Beneficial Ownership (4)

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