Posted on 05/18/2006 2:15:11 PM PDT by Kitten Festival
NEW YORK, May 18 (Reuters) - Occidental Petroleum Corp. (OXY.N: Quote, Profile, Research) is seeking damages totaling more than $1 billion as part of an arbitration claim against the Ecuadorean government for seizing its assets, a company spokesman said on Thursday.
The U.S. oil producer has also terminated all local employees in Ecuador and is relocating its expatriate staff, the spokesman said.
(Excerpt) Read more at today.reuters.com ...
Yeah good luck collecting a dime from a dictator run state. If these petrolium companys were really smart, everytime they build a rig or a plant on foreign soil, they would rig it to explode once the state takes it over!
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