14 Feb '11, 11pm

Ecuador orders Chevron to pay US$8b over oil spill: QUITO: A court in Ecuador on Monday ordered US oil giant Che...

Ecuador orders Chevron to pay US$8b over oil spill: QUITO: A court in Ecuador on Monday ordered US oil giant Che...

QUITO: A court in Ecuador on Monday ordered US oil giant Chevron to pay an estimated $8 billion in a lawsuit alleging the firm caused environmental damage in the South American country between 1964 and 1990, a lawyer for the plaintiffs said. Chevron faces claims it was responsible for damage in the Amazon rainforest caused by oil extraction by Texaco, a company it bought in 2001. Chevron inherited the lawsuit, which was originally filed in 1993. "The Ecuadorian court's judgment is illegitimate and unenforceable," Chevron said in a statement. "It is the product of fraud and is contrary to the legitimate scientific evidence." Pablo Fajardo, lead attorney for the Ecuadoran Amazon communities that sued Chevron, told AFP that the Provincial Court of Justice of Sucumbios made the ruling. Fajardo described it as slightly more than $8 billion while the Wall Street Journal reported...

Full article: http://www.channelnewsasia.com/stories/afp_world/view/111...

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