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ICSID Rules Ecuador Unlawfully Seized U.S. Firm’s Investments

The World Bank's International Center for the Settlement of Investment Disputes has handed down a ruling against the Ecuadorian government, finding that it "unlawfully expropriated" U.S. firm Burlington Resources' investments in two oil blocks. continue reading »

Cuba’s Sugar Harvest Fell Short By 68,000 tons

The 2011-2012 sugar harvest in Cuba was 16 percent bigger than the year before, but the results were "modest" and "insufficient" following a disappointing growing season, government officials said. continue reading »

Colombia’s Ecopetrol Market Value Hits $126.72 Billion, Overtakes Brazil’s Petrobras

Colombian oil company Ecopetrol overtook Brazilian energy firm Petrobras earlier this week to become Latin America's largest public company by market value, according to a study by Sao Paulo-based consultancy Economatica. continue reading »

Mexico’s Pemex Denies $30 billion Accounting Fraud

Mexico's state-owned oil monopoly Petroleos Mexicanos has denied any accounting irregularity after a congressional oversight body said it had identified a possible $30 billion fraud. continue reading »