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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
07/21/201614:53:49Statement of Changes in Beneficial Ownership (4)
07/20/201616:10:00Occidental Petroleum Names Oscar K. Brown Senior Vice President...
07/19/201617:02:46Current Report Filing (8-k)
07/18/201617:44:54Statement of Changes in Beneficial Ownership (4)
07/18/201615:57:57Initial Statement of Beneficial Ownership (3)
07/15/201618:39:09Statement of Changes in Beneficial Ownership (4)
07/15/201618:20:16Statement of Changes in Beneficial Ownership (4)
07/15/201618:17:44Statement of Changes in Beneficial Ownership (4)
07/15/201618:15:34Statement of Changes in Beneficial Ownership (4)
07/15/201618:13:13Statement of Changes in Beneficial Ownership (4)
07/15/201618:10:38Statement of Changes in Beneficial Ownership (4)
07/15/201618:08:02Statement of Changes in Beneficial Ownership (4)
07/14/201615:47:09Statement of Changes in Beneficial Ownership (4)
07/14/201612:51:00Occidental Petroleum Announces Dividend
07/14/201611:07:00Jack B. Moore Elected to Occidental Petroleum Board of Directors
07/12/201619:01:50Statement of Changes in Beneficial Ownership (4)
07/11/201617:40:40Statement of Changes in Beneficial Ownership (4)
07/07/201616:22:56Statement of Changes in Beneficial Ownership (4)
07/07/201609:00:00Occidental Petroleum 2nd Quarter Results to be Announced Wednesday...
07/05/201617:22:26Current Report Filing (8-k)

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