ChevronTexaco Is Taken a Legal Action

ChevronTexaco, the US oil corporation, institutes proceedings against Ecuador?s state oil company Petroecuador.
ChevronTexaco is facing a billion-dollars class action lawsuit in Ecuador over environmental damage by its former subsidiary Texaco Petroleum in upstream operations in the Amazon jungle between 1972 and 1992, and it wants Petroecuador to assume responsibility for the costs in that case.
According to ChevronTexaco, Petroecuador and the Ecuadorian government released Texaco Petroleum from any present or future legal obligations in a 1998 agreement after it completed its share of the clean up work.

A report by US consulting firm Global Environmental Operations found that ChevronTexaco would need to spend $6 billion to clean up the oil pits, rivers and groundwater but Varela said that figure is "exaggerated."