Nov 14, 2010

Ecuador threatens oil companies with eviction



President Rafael Correa said on Saturday that oil private companies that don't sign new services-based contracts must leave the Andean country.  "I'm not playing," Correa said during his weekly media address. "The rules are proposed. Take it or leave it. If they don't like it, farewell and we will pay for their investments."  The Correa statement came just 10 days before the deadline he gave for the five biggest private producers to sign new contracts.
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Source: Market Watch

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