RealNews

Ecuador announces "crusade" against foreign oil companies

Ecuador said Friday it is investigating all foreign energy companies working here and that it has already found non-compliance and “irregularities,” terms similar to those used by Bolivia in explaining why it will modify its signed pacts despite an outcry from the multinationals. “The oil scene in our country is very murky and until now a number of instances of negligence and abuse have been tolerated that must be ended abruptly,” said Attorney General Jose Maria Borja at a meeting with the foreign press. “In the next few weeks,” he added, “and as we review all the files, I will provide detailed information on the violations that have been committed.” The seven foreign oil companies operating in Ecuador currently produce more than half the country’s total output. Full Story

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