Chevron Rejects $8 Billion Fine

Chevron will appeal an Ecuador court ruling that ordered the U.S. oil giant to pay $8 billion damages for allegedly causing widespread environmental devastation in the Amazon jungle.

The company on Monday rejected the disputed lawsuit’s ruling as “illegitimate,” Reuters reports.

While Chevron did not give any hints as to the sum demanded by the Lago Agrio court, defense attorney Pablo Fajardo said it totaled about $8 billion, the British news organization said.

The claim originally asked for $27 billion.

Chevron said it plans to appeal. “The Ecuadorean court’s judgment is illegitimate and unenforceable,” the oil company said in a statement Monday.

The case claims that Texaco, which was acquired by Chevron a decade ago, fouled the Amazon jungle in the 1970s and 1980s due to faulty drilling practices.

Categorized | Oil & Petroleum
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