Ecuador to pay Perenco arbitration award
Credit: shutterstock/max.ku
Ecuador has agreed to pay Bahamian oil company Perenco its US$412 million International Centre for Settlement of Investment Disputes (ICSID) award to settle a long-running dispute over a tax on windfall revenues, while in a separate arbitration the state has been ordered to pay US$17 million to a Spanish-led consortium.
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