Killajoules

Illegitimate Judgment Against Chevron in Ecuador Lawsuit
Chevron Corporation (NYSE: CVX) today announced there has been an adverse judgment from the Provincial Court of Justice of Sucumbíos in Lago Agrio, Ecuador in an environmental lawsuit involving Texaco Petroleum Company.

Power Cut Causes Fire in Shushufindi Refinery Furnace
Failure Interconnected Electric System for the production of complex Industrial Refining Shushufindi, located in the town of the same name, in the Amazon region, caused the car - inflammation of the refinery furnace One, when it was tried to restart the operation of the plant, leaving it outside de servicio, PETROECUADOR reported.

Power Cut Causes Fire in Shushufindi Refinery Furnace
Failure Interconnected Electric System for the production of complex Industrial Refining Shushufindi, located in the town of the same name, in the Amazon region, caused the car - inflammation of the refinery furnace One, when it was tried to restart the operation of the plant, leaving it outside de servicio, PETROECUADOR reported.

Chevron Corporation: Lago Agrio Plaintiffs' Consultants Concede that $113 Billion Damages Claim Lacks Scientific Basis
Admissions during court-ordered depositions of the plaintiffs' own consultants confirm there is no scientific basis for the $113 billion damages claim in litigation pending in Lago Agrio, Ecuador. Over the last two weeks, attorneys for Chevron Corporation (NYSE:CVX) questioned the six consultants credited with the latest damage assessment. The sixth consultant was deposed yesterday.

INPEX not to migrate to the new contract in the Block 18, onshore Ecuador
INPEX CORPORATION announced today that its wholly owned subsidiary, TEIKOKU OIL ECUADOR (TEIKOKU) as a joint venture participant of the Block 18 onshore Ecuador, did not accept the final arrangements proposed by the government of Ecuador to migrate the exploration contract of the Block 18 to a service contract, despite its endeavor to finalize the negotiation. TEIKOKU will take the necessary steps including the securing of compensation payment from the government of Ecuador since TEIKOKU is entitled to receive such payment from the government of Ecuador in accordance with the Ecuadorian law in the case of not migrating to a service contract.

Noble Energy Announces Notification of Termination of Production Sharing Contract Offshore Ecuador
Noble Energy, Inc. (NYSE: NBL) announced today that it received notice from the government of Ecuador regarding the termination of the Block 3 production sharing contract (PSC) with EDC Ecuador Ltd., a subsidiary of Noble Energy. A recently enacted hydrocarbon reform bill required that all existing PSCs be renegotiated as service contracts by November 23, 2010. A service contract on Block 3 has not been negotiated. The Company is continuing to work with the government of Ecuador to resolve this matter.

Petrobras Argentina does not migrate the contracts in Ecuador
Petróleo Brasileiro S.A - Petrobras announces that its subsidiary Petrobras Argentina S.A. (Petrobras Argentina) did not accept the final arrangements proposed by the government of Ecuador to migrate the exploration contracts of the Block 18 and Palo Azul Unified Field, to service contracts.

Eni successfully renegotiates oil contract in Ecuador
Eni signed yesterday in Quito with the Government of Ecuador a new service contract for the Villano oil field in Block 10. The Block is located in the Oriente Basin, in the Eastern part of Ecuador, some 260 km South East of Quito.

ENAP renegotiates contracts with Ecuador
The Ecuadorian Ministry of Non-Renewable Natural Resources and Empresa Nacional del Petróleo, Chile, today signed a renegotiation agreement of contracts for the Mauro Dávalos Cordero (MDC) and Paraíso, Biguno, Huachito (PBH) oil blocks which ENAP has been operating in Ecuador since 2002.

Baker Hughes Awarded Eight-Year ESP Contract in Ecuador
Baker Hughes (NYSE: BHI) announced today it was awarded a $137-million, eight-year contract extension from Repsol for the exclusive supply and maintenance of electrical submersible pumping (ESP) systems in Ecuador’s Block 16 and Tivacuna production areas. The award covers 200 wells in which Repsol requires ESP systems to maximize production.