June 23, 2008
Quito
Arbitrations with oil and electricity can fford a second external debt.
The arbitration proceedings that the State faces with oil companies or private utilities by differences in the implementation of contracts, might cost more than the country's public external debt.
Since 2003 fifteen faces legal grounds and only nine could lose $ 13,369 million, according to the Attorney General's Department.
The figure exceeds by 29% to public debt (in March was $ 10.392 million) and amounts to over 28% of the budget approved for this fiscal year ($ 10.357 million).
The nine arbitrations are Oxy, Chevron-Texaco (two), City East, Emelec, MCI, Machala Power, Vatadur and Duke Energy, companies that already defined their levels of demand.
Four other companies, which also face the state, but which has not yet defined their economic damage, are Murphy, Perenco, Repsol and Burlington.
And the remaining two, Andes Petroleum and Petrobras have reached only the warning phase, namely that warned the start of the lawsuit before filing a formal demand.
According to the Office of the State, if the four oil companies that have not yet defined their amounts and the two demands which have not asked the same amount as requested Oil City ($ 400 million), the amount of the dispute would go up to $ 15,769 million and thus reach almost the entire foreign debt that has the country ($ 17,026 million).
Companies justify why it opted for a centre or international standards and not by local justice.
Kent Robertson, spokesman for Chevron-Texaco, said that "Ecuador has delayed and denied justice in seven commercial claims brought by Texaco in Ecuador before the courts", and therefore appealing to international justice.
What does not imply that Chevron closed its doors to dialogue, he said.
The argument is not shared by the Attorney General, argues that convenience of transnationals, through existing bilateral treaties through.
The Electric Power Machala, however, believes that arbitration is an option that gave the same State, and this does not imply a lack of confidence in the Ecuadorian justice.
Indeed, the company announced, to benefit from this resource must be followed all the legal and these involve agreements.
Conventions
Instance foreign and local
Treaties
According to the Foreign Ministry, Ecuador has signed 27 bilateral treaties on reciprocal protection of investments, since 1990: three are not in force (Costa Rica, Panama and Russia), seven are reported (Romania, Honduras, Dominican Republic, El Salvador, Paraguay, Guatemala and Nicaragua) and of Argentina has expired.
Mediation
The Mediation Center of the Attorney General ensures that it is important to know that nationally there are more than 105 mediation centres where conflicts can be resolved: the community, the municipal family, the judiciary and the state.
Lawsuits
Petroleum and electricity approach
Emelec demand recorded in the International Centre for Settlement of Investment Disputes (ICSID), May 26, 2005. Pide $ 1.700 millones por la concesión de una empresa que ya no existe. Requests $ 1,700 million by granting a company that no longer exists.
Murphy Exploration
Recorded his claim before the ICSID on April 15, 2008. Still does not establish the amount of injury, but feels affected by the breakdown of the Petroleum Act.
City East Limited
It was the first company to sue the inapplicability of the Law on Petroleum Distribution. His case is recorded in the ICSID December 19, 2006. Pide $ 400 millones. Requests $ 400 million.
Perenco Ecuador Limited
Lawsuits injury of the Law on Petroleum Distribution before the ICSID. His trial was recorded on June 4, 2008. Not yet fixed economic damage.
Repsol YPF Ecuador SA Repsol YPF SA Ecuador
Reclama afectación a sus inversiones tras la aplicación de la Ley del Reparto Petrolero. Complain involvement in their investments following the implementation of the Law on Petroleum Distribution. Su demanda está registrada el 9 de junio del 2008 en el Ciadi. His claim is registered on June 9, 2008 at the ICSID. Aún no fija monto. Not yet fixed amount.
Burlington Resources Inc..
He raised his demand to ICSID this June 2. Complain to protect their investments following the breakdown of the Petroleum Act. Not yet fixed amount.
Occidental West
Sued the state after the expiration of his contract. Their demand was recorded on 13 of the ICSID in 2006.
Requests $ 3,200 million.
Duke Energy Electroquil
He went to ICSID to seek protection of their investments. It was recorded on October 7, 2004. Requests $ 25 million.
MCI
MCI Power Group, LC and New Turbine, Inc. MCI Power Group, LC and New Turbine, Inc. All rights reserved. recorded its demand on April 8, 2003 at the ICSID. $ 75 million for payment of electricity.
Machala Power
Noble Energy Inc. Noble Energy Inc. and Machala Power Cía. recorded its demand on July 29, 2005 at the ICSID. Requests $ 371 million surcharge on electricity.
Vatudur
Workshops Varadero and Duran asks $ 398 million as payment in three boats ambulance to the Ministry of Health. Demand is in the Inter-American Commission of Commercial Arbitration. The country was notified on June 4.
Texaco Petroleum Company
He raised two claims against the State. The one under the rules of the United Nations Commission for International Trade Law (UNCITRAL, for acronym in English) and another in the local courts, in Nueva Loja. He wants compensation for damages of $ 1,200 million and another for $ 6,000 million.
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