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Chevron says open to settling Ecuador lawsuit

Fri Aug 15, 2008 4:22pm EDT

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HOUSTON, Aug 15 (Reuters) - Chevron Corp (CVX.N) on Friday said it was open to an amicable solution to resolve a lawsuit by 30,000 Amazon jungle dwellers suing the U.S. oil major in Ecuador for up to $16 billion in environmental damages.

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"Chevron desires to have a fair and complete resolution to the Lago Agrio case," the company said in a statement, adding that any talks will need to "include discussion of Petroecuador's unfulfilled contractual obligations and a commitment from the Ecuadorean state to stop interfering in the ongoing trial."

On Wednesday, Ecuador said it would be willing to mediate a settlement between Chevron and the peasants and Indians who are suing the company over charges its Texaco unit polluted the jungles and damaged their health by dumping billions of gallons of oil-laden water from 1972 to 1992. (Reporting by Anna Driver in Houston; Editing by Gary Hill)

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