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Article: Ecuador : Ecuador Seeks Cash to End Three-Year Oil Output Drop.
- Article from:
- TendersInfo
- Article date:
- October 28, 2009
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Byline: manish03
Ecuador, the smallest member of the Organization of Petroleum Exporting Countries, is seeking to attract investment from state-run companies in Latin America, Russia and China to reverse a three-year drop in crude output.
Ecuador is forging alliances to explore and produce crude as lower investment by privately-owned companies causes production to drop as much as 6.6 percent this year, Julio Gonzalez, undersecretary of hydrocarbons policy at the Ministry of Non-Renewable Natural Resources, said in an interview.
The government s priority is to do this with state companies, Gonzalez said yesterday at the ministry in Quito.
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