Interim measures refused as no right to specific performance on termination of oil concession | Practical Law
An ICSID tribunal has refused the claimants' request for provisional measures in arbitration proceedings between Occidental Petroleum Corporation and Occidental Exploration and Production Company v The Republic of Ecuador (ICSID Case No ARB/06/11). The claimants alleged various breaches of domestic and international law, and under the US/Ecuador BIT, in respect of the oil concession granted to them by Ecuador in 1999. The claimants issued a request for provisional measures which was, in essence, intended to preserve their alleged right to specific performance of the underlying contract.