Weekly Report - 13 November 2008 (ISSN 1741-7422)

ECUADOR | Repsol deal. The Spanish-Argentine energy firm, Repsol-YPF, will stay on in Ecuador, after President Rafael Correa withdrew his threat to expel the company for failing to agree to 'migrate' to a new hydrocarbons contract. Correa said he had responded to the pleas of the Spanish government, and that he was delighted to retain the services of a “very serious" company in Ecuador. Correa also played hardball recently with the Brazilian state oil company Petrobras: the threat to expel it from the country, as with Repsol, was a ploy to force it to negotiate a new contract. Like Petrobras, Repsol agreed to a one-year transition contract.

End of preview - This article contains approximately 237 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial