Ecuador reveals the pain inside OPEC: It’s pumping oil at a loss
President Rafael Correa said on Tuesday that the South American nation is receiving as little as $30 a barrel for its crude, while production costs average about $39.
View ArticleCanadian court rules villagers in Ecuador can pursue class action lawsuit...
The Supreme Court of Canada said in a unanimous decision that the company can be pursued in the country for its alleged actions in Ecuador, in a case that’s spanned more than two decades.
View ArticleOPEC’s next battle ground will be choosing new top official
As it became clear last week in Vienna that a push for oil production cuts was failing, ministers from Venezuela, Algeria, Iran and Ecuador huddled around OPEC’s conference table and tried a different...
View ArticleOPEC sees zero impact on oil market from U.S. lifting export ban
The U.S. Congress is nearing a deal on the biggest shift in the nation’s oil policy in more than a generation by allowing the world’s largest oil and gas producer to sell crude abroad.
View ArticleOccidental to receive about $1 billion from Ecuador
Occidental Petroleum Corp. said it expects to receive about $1 billion from the Republic of Ecuador this year as part of an arbitration claim against the government following a longstanding dispute...
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