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Petroecuador oil Tanks are seen from a airplain in the city of Lago Agrio,founded in the 1960s as a base camp of Texaco, located in the Amazonian forest, The area around the city, the Lago Agrio oil field, has many ecological problems. The rainforest has been all but obliterated in this region and environmental degradation is severe, with catastrophic oil pollution in some areas. On February 14 2011, a judge in Lago Agrio ruled that Chevron, now owner of Texaco, had to pay $9 billion in environmental damages for polluting the rainforest, in an unprecedented environmental ruling.