Reviewing Chevron's Performance In The Last Part Of 2012 [View article]
Thanks Colin, The LNG projects are sure going to be the spotlight for Chevron's next few earnings releases. Chevron also has some very interesting expansions planned for the coming year.
Reviewing Chevron's Performance In The Last Part Of 2012 [View article]
Thanks Tedishor, agreed about the lawsuit, I too would be curious to see if any effort was done to hold Petroecuador liable for the damages, although I do believe that wouldn't have gotten them very far.
Reviewing Chevron's Performance In The Last Part Of 2012 [View article]
Thanks CV, however I'm not sure I agree with your interpretation of Chevron's legal defense. I'm not an expert by any means on legal matters, but from the press releases and information circulars on their website it seems to me that they are implying fraudulent charges on the part of the plaintiff, particularly the lawyer hence the reason for also suing Dozinger et al.: From the Chevron website, their statemetn on the defense: http://bit.ly/VAGqq5;highlight= Which I interpret to say 1) Texpet was fully exonerated. I believe the reason for stating Chevron never operated is more a PR move to protect the image, and 2) plaintiff's lawyers are making false and fraudlent claims. Unfortunately I cannot access your article due to its "PRO" status
Reviewing Chevron's Performance In The Last Part Of 2012 [View article]
Hello CV, thank you very much for your reply and your read. In response to my claim of shoddy evidence, I do believe there is overwhelming evidence that environmental damage that took place in the area, however pinning the blame appropriately is the trickier part. As explained above, CVX was a minority owner in the project and ceased operations in 1990 and completed remediation with a signoff in 95. Petroecuador ceased operations in 2008 according to this forbes article, http://onforb.es/VlXiRs, which is nearly 20 years after Chevron left.
So, who is to say all the damages pertain to Chevron's operations...
Not that I believe Chevron played no part in the ecological destruction, but what I really think happened is the Ecuadorean government realized they had this sensitive area in the country completely destroyed while Chevron had $28 B in their banks in cash.
Thanks again for the read, and Happy New Year to you as well Mark
Reviewing Chevron's Performance In The Last Part Of 2012 [View article]
The LNG projects are sure going to be the spotlight for Chevron's next few earnings releases. Chevron also has some very interesting expansions planned for the coming year.
Mark
Reviewing Chevron's Performance In The Last Part Of 2012 [View article]
Reviewing Chevron's Performance In The Last Part Of 2012 [View article]
From the Chevron website, their statemetn on the defense:
http://bit.ly/VAGqq5;highlight=
Which I interpret to say 1) Texpet was fully exonerated. I believe the reason for stating Chevron never operated is more a PR move to protect the image, and 2) plaintiff's lawyers are making false and fraudlent claims.
Unfortunately I cannot access your article due to its "PRO" status
Reviewing Chevron's Performance In The Last Part Of 2012 [View article]
In response to my claim of shoddy evidence, I do believe there is overwhelming evidence that environmental damage that took place in the area, however pinning the blame appropriately is the trickier part. As explained above, CVX was a minority owner in the project and ceased operations in 1990 and completed remediation with a signoff in 95. Petroecuador ceased operations in 2008 according to this forbes article, http://onforb.es/VlXiRs, which is nearly 20 years after Chevron left.
So, who is to say all the damages pertain to Chevron's operations...
Not that I believe Chevron played no part in the ecological destruction, but what I really think happened is the Ecuadorean government realized they had this sensitive area in the country completely destroyed while Chevron had $28 B in their banks in cash.
Thanks again for the read, and Happy New Year to you as well
Mark