ConocoPhillips-Ecuador dispute ends with damages for both sides

A nearly decade-long ICSID dispute between ConocoPhillips and Ecuador, with claims on both sides running into the billions, has ended with awards of nearly US$380 million for the investor and US$42 million for the state.

ConocoPhillips announced on Wednesday that its wholly owned subsidiary Burlington Resources received US$379.8 million for what it called “Ecuador’s unlawful expropriation of Burlington’s significant investment”. A copy of the award is available here.

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