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Article: ECUADOR ORDERS OCCIDENTAL PETROLEUM CORPORATION OUT OF THE COUNTRY FOR ILLEGAL SALE.
- Article from:
- NotiSur - South American Political and Economic Affairs
- Article date:
- June 2, 2006
CopyrightCOPYRIGHT 2006 Latin American Data Base/Latin American Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In mid-May Ecuador's government terminated Occidental Petroleum Corporation's contract to exploit oil resources on one of the country's most productive fields after a 19-month legal prosecution of the company for the unauthorized sale of an oil field. The US retaliated by suspending ongoing trade talks with the Andean country immediately after Energy Minister Ivan Rodriguez found against Los Angeles-based Occidental, also known as Oxy. The move followed an April vote in the Ecuadoran Congress that increased the royalties oil companies operating in Ecuador must pay.
Ecuador's termination of Oxy's contract means the largest single corporate entity extracting ...
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Article: STATE DEPT.: U.S. SUSPENDS TRADE NEGOTIATIONS WITH ECUADOR
US Fed News Service, Including US State News;
May 17, 2006 ;
700+ words
... ... negotiations with Ecuador following the Andean ... contract of Occidental Petroleum Corporation, according to the ... USTR). On May 15, Ecuador's minister of energy ... cancellation of Occidental Petroleum Corporation's operating contract ...
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