Posts in Latin American oil
- Mexico is opening up its lucrative offshore oil fields for the first time in 80 years, and in the words of the Financial Times, which devotes a whole page of the paper to the subject, “it is shaping up to be quite a feast.”
- Indigenous rights groups yesterday reacted angrily yesterday to what they labelled as a “misguided judgement” by a New York District Court Judge, Lewis Kaplan, who ruled that lawyers representing Amazonian Indians had used “corrupt means” and “fraud” to win a legal case against Chevron in Ecuador.
- In the long and tortuous legal battle between indigenous communities in Ecuador against the oil giant Chevron, the plaintiffs scored a major victory yesterday in, of all places, Canada.
- Chinese companies are changing their investment strategies, with implications for the global energy market
- On the same day that Peru declares a State of Emergency over oil pollution in the Amazon, the Ecuadorians offer 3 million hectares of pristine forest to the Chinese to explore for oil.
- Chevron has been found guilty again. Yesterday, an Ecuadorian appeals court upheld a ruling that the oil giant should pay US$18 billion in damages for polluting the Amazon. It was last February that a local judge had ordered Chevron to pay US$8.6 billion in damages, but the amount was doubled to US$18 billion because Chevron...
Continue reading 'Appeal Court Upholds Chevron Guilty Verdict'.
- Chevron is at the center of a scandal over the oil spill in the offshore Campos Basin Frade field about 230 miles from the coast of northeast Rio de Janeiro. Originally the company said that the spill was natural seepage from the field. Well, no, it appears it was not. The scandal began to unravel on...
Continue reading 'Oil Spill off Rio Sets Chevron at the Center of Scandal'.
- Last week it was Shell’s AGM and its turn to face the wrath of shareholders and activists for its appalling environmental record. This week its Chevron’s turn with its AGM tomorrow. Protests kicked off in dramatic style yesterday, when activists from Amazon Watch and Rainforest Action Network rappelled from the Richmond Bridge in the San...
Continue reading 'Chevron Guilty: Clean Up the Amazon!'.
- In an historic victory, a small court in Lago Agrio, in Ecuador’s Amazon has ordered that Chevron pay some $8.6 billion in damages. The court ruled in favour of the indigenous peoples of the Amazon who have spent the last 18 years seeking damages for systematic and chronic oil pollution. Chevron inherited the suit when...
Continue reading 'Chevron Guilty'.
- Are investors put off by the risks of ultra deepwater drilling after the Deepwater Horizon disaster? If the frenzy down in Brazil is anything to go by – the answer is a staggering no. Brazil’s national oil company, Petrobras, has just raised a whopping $70bn in the biggest share issue in corporate history. And the...
Continue reading '“Brazil is the future for the oil industry”..'.
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