Watching the World: Legal niceties vs. cash flow

Yep, here we go again. Ecuador’s energy minister has threatened Occidental Petroleum Corp., saying the California firm must prove it has not breached a government contract or risk losing its Amazon oil field license.Ivan Rodriguez said, “A deadline of 60 days is set, starting from the time of this notification, for the company Occidental to fulfill its obligations or to dispel the charges formulated against it.”It’s an old soft-shoe routine.Solicitor General Jose Maria Borja has pushed since August 2004 to revoke Oxy’s contract, saying the company violated the agreement by transferring 40% of its interest in the license to EnCana Corp. without authorization f...

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