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Oil & Gas

Chevron Fined $9.5 Billion in Ecuador

February 15, 2011
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An Ecuadorean judge ruled in an epic environmental case that Chevron Corp. was responsible for oil drilling contamination in a wide swath of Ecuador''s northern jungle and ordered the oil giant to pay $9.5 billion in damages and cleanup costs, according to the Associated Press. The amount, $8.6 billion plus a legally mandated 10 percent reparations fee, was far below the $27.3 billion award recommended by a court-appointed expert but appeared to be the highest damage award ever issued in an environmental lawsuit. But whether the plaintiffs, including indigenous groups who say their hunting and fishing grounds in Amazon River headwaters were decimated by toxic wastewater that also raised the cancer rate, can collect remains to be seen. Chevron has long contended it could never get a fair trial in Ecuador and has removed all assets from Ecuador.

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