Ecuador News
Newsweek – The Read and the Black – Why are Latin American democracies suddenly attacking the free press?
Wednesday, September 1st 2010
Discussion of the restrictions that Ecuador President Rafael Correa is placing on the media:
Argentina, Bolivia, Ecuador, and Nicaragua have passed new media laws—all of them aimed at clipping the wings of privately owned news sources—and the call for “social control of media” is viral among lefty groups. (It was unanimously endorsed, for instance, by participants at an August confab in Argentina of regional leftist parties—which now govern 11 Latin American countries—called the São Paulo Forum.) “The threat to freedom is all around,” says Amaury de Souza, a Brazilian political scientist. “And it’s growing.”
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Eurasia Review – Ecuador Energy Profile: Country Fails To Benefit From High Oil Prices
Wednesday, September 1st 2010
This article discusses Ecuador’s oil exports and imports of refined crude:
Ecuador is one of Latin America’s largest oil exporters, with net oil exports estimated at 305,000 barrels per day (bbl/d) in 2009.
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International Business Times – Ecuador, China sign $1 billion cash-for-crude loan deal
Wednesday, September 1st 2010
Ecuador signs second loan in two months with China:
Ecuador and China signed on Tuesday a $1 billion loan deal as the Asian giant is pushing ahead with the policy of securing energy resources in Latin America and Africa.
The fresh loan deal, which Ecuador’s government signed in Beijing with the China Development Bank, comes just two months after Ecuador and the Export-Import Bank of China signed a $1.7 billion deal for financing a huge hydroelectric project in Ecuador.
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Dow Jones – Ecuador Prepares To Sign For $1 Billion Loan From China
Tuesday, August 31st 2010
Report that the loan agreement between China and Ecuador is about to be signed:
The government of Ecuador and the China Development Bank Corp. will sign in the coming hours a $1 billion loan agreement, a high-level government official told Dow Jones Newswires on Monday.
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The Chosun Ilbo – Ecuador Leader’s Visit to Korea Raises Hopes of Petro-Deal
Tuesday, August 31st 2010
News that Ecuador President Rafael Correa will travel to Korea:
Ecuadorian President Rafael Correa will visit Korea in the second week of September and meet with his Korean counterpart Lee Myung-bak. Along with Venezuela, Ecuador is a major oil producer in Latin America, and Correa is expected to discuss Korean participation in the construction of a US$12.5 billion oil refinery in the coastal province of Manabi jointly operated by Ecuador and Venezuela.
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Bloomberg – Ecuador’s Foreign Reserves Fall to Lowest Since 2009
Tuesday, August 31st 2010
Ecuador government debt ranked 2nd riskiest among 15 developing countries:
Ecuador’s foreign reserves dropped to the lowest level since July 2009, heading for their biggest monthly decline since May, as government cash deposits at the central bank fell.
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Kyodo News – Ecuadorian President to visit Japan
Monday, August 30th 2010
News that Ecuador President Rafael Correa will go to Japan:
Ecuadorian President Rafael Vicente Correa Delgado will pay a four-day working visit to Japan from next Sunday for talks with Japanese Prime Minister Naoto Kan, the Foreign Ministry said Monday.
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Radio Havana Cuba – Ecuadorian President Rafael Correa to Visit Haiti
Monday, August 30th 2010
News that Ecuador President Rafael Correa will go to Haiti:
The President of Ecuador, Rafael Correa, will travel to Haiti on Monday as pro temp chairman of the Union of South American Nations (UNASUR) to help consolidate aid efforts to the country devastated by the January 12 earthquake.
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Bloomberg – Ecuador’s Pichincha May Sell $100 Million in Stock After Lloyds Purchase
Monday, August 30th 2010
News on Ecuador banking:
Banco del Pichincha CA, Ecuador’s biggest bank by revenue, may sell $100 million in preferred shares to raise capital after it bought Lloyds Banking Group Plc’s Ecuador operations, Pichincha President Fidel Egas said.
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Poder 360 – ECUADOR – Government Won’t Give In
Friday, August 27th 2010
Ecuador further defines the contracts that it would have with foreign oil companies operating in the country:
Fees to be charged to private oil companies won’t vary with international price of oil
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Ecuador’s June Oil Output Falls 1% On Year To 14.6 Million Barrels
Friday, August 27th 2010
Report on oil production in Ecuador:
Ecuador’s average oil output fell 1% to 14.60 million barrels in June from 14.75 million barrels a year earlier, the Central Bank said.
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Al Jazeera – Water or Gold in Ecuador
Thursday, August 26th 2010
Al Jazeera reports on Ecuador President Rafael Correa’s push to extract natural resources from the country:
Like many South American countries, Ecuador has long been an exporter of raw materials – from agricultural produce such as cocoa and bananas, to oil, which alone accounts for more than half of its annual earnings.
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Ministry of Foreign Affairs of Cuba – Ecuadorian President Honors Cuba and Emphasizes Friendship between the Two Countries
Thursday, August 26th 2010
More on the partnership between Ecuador and Cuba:
Ecuador recognized the help from Cuba in areas of health, education, and sports, and praised distinct government officials and the ambassador of Cuba to Ecuador, Benigno Pérez, who has held his position for five years.
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Reuters – Factbox – Ecuador’s oil industry and contract talks
Thursday, August 26th 2010
Ecuador has begun contract talks with the foreign oil companies:
Ecuador started long-awaited contract talks with oil companies on Wednesday as the government tries to negotiate a new round of pacts aimed at increasing state revenue from the key sector.
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Escambray – Ecuadorian President Grants Distinction to Cuban Government
Wednesday, August 25th 2010
Ecuador President Rafael Correa honors Cuban government officials:
Ecuadorian President Rafael Correa conferred the Honorato Vazquez National Order in the Gran Cruz Degree to Cuban ambassador to his country Benigno Perez, while Health minister David Chiriboga presented the Cuban government with the Decoration to the Merit.
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Dow Jones – Ecuador July Business Confidence Down 5% On Year – Deloitte
Wednesday, August 25th 2010
Ecuador’s new law on oil contracts with foreign investors causes business community to lose confidence in the country; says law could also cause concerns about legal security:
Business confidence in Ecuador fell 5% in July compared with the same month in 2009, according to a report by Deloitte & Touche.
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Reuters – Ecuador gives oil firms until Nov to sign new deals
Wednesday, August 25th 2010
Deadline set for new oil contracts in Ecuador:
Major oil companies operating in Ecuador will have until November to sign new contracts aimed at increasing government control over the sector, President Rafael Correa told reporters on Tuesday.
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Reuters – Factbox – Ecuador’s oil industry and contract talks
Wednesday, August 25th 2010
Details from Reuters on the new oil contracts in Ecuador:
Ecuador is giving big oil companies until November to sign new contracts aimed at increasing state revenue from the key sector or else President Rafael Correa says the firms will have to leave the country.
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Latin Business Chronicle – Ecuador Oil: Reduced Investments
Tuesday, August 24th 2010
New oil contracts with companies in Ecuador likely to lead to reduced investment, according to this piece:
Private foreign investment in Ecuador’s oil sector is likely to fall as a result of new laws for the sector, experts say.
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AP – Indians back Ecuador plan not to drill for oil
Tuesday, August 24th 2010
Indigenous population in Ecuador supports Yasuni agreement:
Ecuador is pressing its appeal for wealthy countries to put up $3.6 billion to protect a pristine Amazon rain forest preserve by leaving its rich oil deposits untouched underground.
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