According to Ecuador’s “Business Daily” reported on June 6th, Ecuadorian National Oil Company faced more than 100 companies’ lawsuits and the development was difficult.
In an interview, Carlos Tejada, general manager of Ecuadorian National Oil Company, said that in the past six months, the contract was reviewed one by one to learn the contractual situation of bilateral termination, unilateral termination, and termination of the project expires. The Brazilian construction company Odebrecht sued the Pascules-Kungar pipeline project following the termination of the Esmeralda oil refinery contract, claiming a claim of US$168 million because they did not receive project compensation. Ecuadorian National Oil Company plans to terminate the cooperation agreement in the short term.
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