The YPF case exposes the inconsistencies of the international investment protection system, which enables large corporations to engage in predatory practices, creating severe macroeconomic problems for Argentina.
Civil society groups are calling on the Government to leave the Energy Charter Treaty (ECT) and reject ISDS, as a new threat emerges over the government’s refusal to grant an exploration licence to an oil and gas company.
For over 20 years, Argentina had the world’s highest number of investor claims before international arbitration tribunals. It also has the highest number of bilateral investment treaties in force in Latin America and the Caribbean.
SOMO and Both ENDS strongly condemn the newly revealed investor-state dispute settlement case filed by Petrogas, an Omani oil and gas company operating two shallow-water gas fields in the Dutch North Sea, against the Netherlands.