Ecuador seeking fair compensation from Occidental

[struggle4progress]

QUITO, Ecuador, May 5 (Reuters) - Ecuador on Friday said it could end legal action against Occidental Petroleum (OXY.N: Quote, Profile, Research) if the company agreed to pay fair compensation for an oilfield transfer the government charges was made without permission.

The attorney general on Thursday cleared Ecuador's government to settle the dispute caused by Occidental's sale of 40 percent of Amazon Block 15 to Canadian oil company Encana (ECA.TO: Quote, Profile, Research), a transaction authorities said was not sanctioned.

"We have to see ... if fair compensation can be established for the violation that this company committed," government spokesman Enrique Proano said Friday. He said if the negotiations go well the government could end its threat to terminate Occidental's contract ...

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-05-05T225614Z_01_N05442207_RTRIDST_0_ENERGY-ECUADOR-OCCIDENTAL.XML

[Judi Lynn]

1. What oil people have done to the people, animals, birds, fish of Ecuador

is desperately vile. They are absolute scum to treat people and the creatures living there so cruelly, so thoughtlessly, rudely, viciously.

No, it's NOT appropriate to smash and grab your way through life, to hell with the other guys unlucky enough to be in your road.

Ecuadorian people have THIS kind of landscape, from which to derive their water, their air, crops, from which animals attempt to drink, to feed, land where they may rest....

[mom cat]

2. Oh my God! That is sickening.