| Arbitration panel orders Ecuador to pay $1 bln to Occidental -Correa | |
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QUITO, Nov 2 (Reuters) - A World Bank tribunal said Ecuador must pay Occidental Petroleum Corp around $1 billion for seizing the U.S.-based company's assets in 2006, Ecuador's President Rafael Correa said on Twitter on Monday. In 2012, the International Center for Settlement of Investment Disputes (ICSID) ordered Ecuador to pay $1.77 billion which led Correa's government to appeal. (Reporting by Alexandra Valencia; Editing by Chris Reese)
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Occidental Petroleum is a oil producing company based in United states of america. Occidental Petroleum is listed in United States of America. Its market capitalisation is US$ 51.8 billions as of today (€ 48.4 billions). Its stock quote reached its highest recent level on March 16, 2012 at US$ 99.99, and its lowest recent point on October 16, 2020 at US$ 10.00. Occidental Petroleum has 764 580 032 shares outstanding. |