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Petroamazonas to invest $3.2 billion in Ecuador next year

By Alexandra Valencia QUITO (Reuters) - Ecuador's state-run oil firm, Petroamazonas, expects to invest $3.2 billion in its operations next year and forecasts stable output of around 322,000 barrels per day (bpd), its general manager said on Friday. Production by Petroamazonas, the operations division of state oil company Petroecuador, accounts for just over 60 percent of the crude pumped in the South American OPEC nation.

Chevron in US court to block $19bn Ecuador fine

US oil giant Chevron went to court in New York this week to try to escape paying $19 billion in damages in Ecuador, accusing an American lawyer acting for indigenous people there of fraud. Chevron wants a New York district judge to prevent lawyer Steven Donziger, Ecuadoran villagers and green activists from using the US courts to force Chevron to pay its Ecuadoran fine. A court in Ecuador ordered Chevron to pay $18 billion in damages, later raised to $19 billion, to people from Lago Agrio in the Amazon for environmental damage.

Football: Qualified Ecuador remember Benitez

Ecuador's Colombian coach Reinaldo Rueda on Tuesday dedicated his team's qualification for the World Cup to Christian Benítez, the former Birmingham striker who died in July. A tearful Rueda praised his side for overcoming the shock loss of Benitez, who died of heart failure just weeks after joining Qatari club Al Jaish. Crowds in the capital Quito also chanted "Chucho, Chucho" -- the 27-year-old's nickname -- as they turned out to celebrate bagging the fourth and final automatic South American qualifying spot.

Ecuador congress approves Yasuni basin oil drilling in Amazon

By Alexandra Valencia QUITO (Reuters) - Ecuador's parliament on Thursday authorized drilling of the nation's largest oil fields in part of the Amazon rainforest after the failure of President Rafael Correa's plan to have rich nations pay to avoid its exploitation. The socialist leader launched the initiative in 2007 to protect the Yasuni jungle area, which boasts some of the planet's most diverse wildlife, but scrapped it after attracting only a small fraction of the $3.6 billion sought.

Ecuador and Argentina presidents discussing Chevron's drilling plan for Patagonia

BUENOS AIRES, Argentina - Ecuadorean President Rafael Correa is meeting with President Cristina Fernandez during his trip to Buenos Aires amid concerns that his new campaign against Chevron Corp. could harm relations between the two countries.

Tribunal finds Ecuador released Chevron from pollution liability

By Braden Reddall (Reuters) - In a dispute stemming from a lengthy legal battle over Amazon rain forest pollution, arbitrators ruled that Chevron had already settled claims for damages in agreements with Ecuador despite a $19 billion award against the oil company. The international tribunal, acting under The Hague's Permanent Court of Arbitration, said in a ruling on Tuesday that Ecuador opted not to pursue damages beyond the country's 1995 and 1998 release agreements with Texaco - a company bought by Chevron in 2001.

Ecuador's Correa calls for Chevron boycott

Ecuadoran President Rafael Correa called Tuesday for a global boycott of Chevron, as part of a campaign to highlight Amazon pollution that Quito has attributed to the US oil giant. Chevron has never worked directly in Ecuador but inherited a pollution lawsuit when it acquired Texaco in 2001, and has yet to pay an associated $19 billion fine. "This is one of the biggest environmental disasters in the world," Correa said as he launched the campaign in the town of Aguarico, in the north Amazonian province of Sucumbios, where Texaco operated between 1964 and 1990.

Ecuador's Correa calls for Chevron environmental boycott

Ecuadoran President Rafael Correa called Tuesday for a global boycott of Chevron, as part of a campaign to highlight Amazon environmental damage Ecuador attributed to the US oil giant. Chevron has never worked directly in Ecuador but inherited a pollution lawsuit when it acquired Texaco in 2001, and has yet to pay an associated fine. "The tools that we will use to fight Chevron are the truth and a call for solidarity of citizens of the world to not buy Chevron products," Correa said as he launched the campaign.

Chevron claims new proof of fraud in Ecuador pollution ruling

US oil giant Chevron, hit in Ecuador with a record $19 billion fine for pollution, asked Monday for the court to consider what it claimed was "new evidence" the judge in the case was corrupt. In a statement in Quito, the company -- which has been castigated by President Rafael Correa for refusing to pay the fine -- said it had presented the prosecutor with "4,000 pages of new evidence" concerning the judge's alleged fraud and breach of trust. Chevron has never worked directly in Ecuador but inherited the pollution lawsuit when it acquired Texaco in 2001.

Ecuador seeks penalties for libel on social networks

The Ecuadoran government has proposed legal changes to punish libel disseminated over social networks like Twitter or Facebook, a top official said Wednesday. Alexis Mera, President Rafael Correa's secretary for legal affairs, said the move aimed not to control content on social networks, but to extend to them the same rules that apply to other media. "The same penalty that exists for defamation in the communications media, or in any other situation, is applicable in cases of defamation on social networks," Mera said.
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