Sunday, April 18, 2010

Ecuador Plans to Nationalize Foreign Oil Companies That Fail to Sign Royalty Agreement with Quito

I have not had much South America news lately on the blog, but the below article may help remedy this lack of coverage on my end. The story comes from Ecuador and from a website called Hamsayeh.net.

Latin America’s fifth-largest oil producer Ecuador warned foreign oil companies currently operating in the country to sign-up to a new proposed deal or face nationalization by Quito.



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