Poder 360 – Ecuador and Iran Sign Hydroelectricity Agreement
Wednesday, Mar. 10th 2010
Representatives from both countries signed an agreement for the construction of three hydroelectricity plants in Ecuador
Ecuador News
Tehran Times – Iran to build power plants in Ecuador
Wednesday, Mar. 10th 2010
Iran plans to build two power plants in Ecuador, First Vice President Mohammad-Reza Rahimi has been reported as saying.
“Both sides agreed to expand cooperation in all fields,” he said, on the sidelines of his meeting with Ecuadorian First Vice President Lenin Moreno in Tehran on Sunday, the Islamic Republic of Iran News Network reported.
Latin American Herald Tribune – Ecuador Says It Has “Plan B” If Yasuni Initiative Fails
Monday, Mar. 8th 2010
President Rafael Correa said Saturday his administration has a “plan B” up its sleeve in the event the Yasuni-ITT initiative – a proposal by Ecuador to leave Amazon oil in the ground in exchange for international compensation – is unsuccessful.
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Latin American Herald Tribune – Ecuador Hires Korean Firm for Engineering Studies at Refinery
Monday, Mar. 8th 2010
The Ecuadorian government has signed an agreement with South Korean firm SK E&C for basic engineering studies at the Refinery of the Pacific, a joint project with Venezuela.
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Latin American Herald Tribune – China Wants More Time to Wrap Up Financing Deal for Ecuador Dam
Monday, Mar. 8th 2010
The Chinese government has asked Ecuador to push back a deadline for wrapping up a financing deal for what will be the Andean nation’s largest hydroelectric plant.
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Upstream Online – Ecuador eyes April deadline for contracts
Tuesday, Mar. 2nd 2010
Ecuador could assume the operation of oil fields run by private companies if the firms do not sign new contracts with the state in April, Strategic Sectors Minister Galo Borja told Reuters today.
Poder 360 – Ecuador Vulnerable to Organized Crime
Tuesday, Mar. 2nd 2010
The U.S. State Department recognized the Ecuadoran government’s efforts against drug-trafficking, but warned that the country remains vulnerable to organized crime
Latin American Herald Tribune – Ecuadorian Indians Call for “Uprising” against Government
Saturday, Feb. 27th 2010
Indigenous representatives and leaders issued a call for an “uprising” to protest the Ecuadorian government’s development policies and press demands for a pluri-national state.
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Dow Jones – Ecuador Native Group Breaks Off Dialogue With Government
Friday, Feb. 26th 2010
The powerful Confederation of Indigenous Nationalities of Ecuador, or CONAIE, announced on Friday the rupture of the dialogue with the government of President Rafael Correa and said that it will call for protests and demonstrations.
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Poder 360 – Oil Investment to Increase
Thursday, Feb. 25th 2010
The Ministry of Non-Renewable Natural Resources revealed that private oil firms operating in Ecuador will invest $417 million in 2010, representing almost double the $212 million spent in the sector last year.
Latin American Herald Tribune – Private Oil Firms in Ecuador to Double Investment in ‘10
Thursday, Feb. 25th 2010
Private oil companies operating in Ecuador plan to invest more than $417 million in 2010, nearly double last year’s outlay, the Non-Renewable Natural Resources Ministry said Wednesday.
Reuters – Ecuador sees higher private oil investment in 2010
Thursday, Feb. 25th 2010
Private oil companies are expected to invest $417.7 million in their Ecuadorean operations this year, up sharply from $212.1 million in 2009, the government said on a statement on Wednesday.
EFE – Ecuador’s Indians announce rupture of dialogue with gov’t
Tuesday, Feb. 23rd 2010
Organizations representing Ecuador’s indigenous peoples announced the rupture of the dialogue that they had been maintaining with government representatives and said they will await the decisions of the General Assembly of indigenous peoples set for later this week to call protest demonstrations.
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Dow Jones – Ecuador Foreign Debt In November Down 19% To $13.7B; 27% Of GDP
Monday, Jan. 25th 2010
Ecuador’s total foreign debt in November was $13.70 billion, a 19% decrease from $16.97 billion in the same month of 2008, the central bank said.
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Dow Jones – Ecuador Block 15 Output Is Declining At 3% Per Month -Government
Monday, Jan. 25th 2010
Ecuador’s Block 15, in the Amazon region, has a natural decline of 3% per month in its production, meaning state-owned Petroamazonas SA will concentrate future investments in new projects, a high level government official said Monday.
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Dow Jones – Ecuador: Petroamazonas To Invest $550 Million For Oil Block 31
Monday, Jan. 25th 2010
Petroamazonas SA, a unit of state-run Petroecuador, plans to invest around $550 million to develop oil block 31, and aims to produce up to 35,000 barrels per day, company general manager Wilson Pastor said Monday.
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Ecuador Rising – Ecuador: Power Cuts Caused $250 Million in Lost Sales
Saturday, Jan. 23rd 2010
QUITO – Ecuadorian President Rafael Correa said Thursday that a power-rationing program in place from November until Jan. 15 resulted in an estimated $250 million in losses for the commercial sector.
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Reuters – Ecuador relaunches Amazon protection talks
Saturday, Jan. 23rd 2010
Ecuador is toughening its stance in talks aimed at protecting its Amazon region through a deal under which rich countries would pay the government to refrain from drilling for oil, an official said on Friday.
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AngusReid Global Monitor – Correa’s Approval Rating Stagnates in Ecuador
Saturday, Jan. 23rd 2010
The popularity of Ecuadorian president Rafael Correa remains on the negative side, according to a poll by Cedatos/Gallup. 41 per cent of respondents approve of Correa’s performance, while 51 per cent disapprove of it, essentially unchanged since November.
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Ethiopian Review – Ecuador’s rainforest protection scheme in jeopardy
Thursday, Jan. 21st 2010
In no other nature reserve in the world is there so much plant and animal diversity as in Yasuni National Park, in the heart of the Ecuadorian Amazon, according to a new scientific study published in the journal “PLoS ONE.”
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In the News
San Francisco Chronicle blog – Chevron Ecuador issue: video showing Judge talking bribe authentic
Wednesday, Mar. 3rd 2010
Ecuador Ministry of Justice Engineer Hugo Rekalde issued a statement today, Tuesday, that the video taken of an Ecuadorian Judge named Juan Evangelista Nunez involved in a conversation over an alleged bribe that the Judge would get part of if he were to rule against Chevron in their case against Ecuador (and note, not the indigenous people, because Ecuador's a party to the lawsuit). Read more »San Francisco Chronicle – Chevron, plaintiffs seek gains as verdict nears
Tuesday, Mar. 2nd 2010
In other recent developments: -- A report last month from another court-appointed expert showed that water in the area is heavily contaminated with fecal bacteria. Chevron has long argued that contamination from bacteria - not oil - is responsible for health problems in the region. -- An investigation into one of the case's previous judges found Monday that clandestinely recorded videos of the judge, released by Chevron last year, were authentic and unaltered. The videos show Judge Juan Nunez discussing the case with two men seeking oil field cleanup contracts. At one point, the judge agrees with a statement from one of the men that Chevron is the "guilty party" in the case. The incident prompted a government investigation. Read more »The Daily Caller – Latin America’s future depends on the rule of law
Monday, Mar. 1st 2010
Over the course of good years and bad, the countries of Latin America have recently been taking diverging paths to very different futures. In one camp are countries such as Chile, Colombia and Panama, which are actively promoting the rule of law. By fostering an investment climate that supports job creation and economic growth, they have advanced the prosperity of their citizens. In another camp are countries such as Bolivia, Ecuador and Nicaragua, which have taken stances inimical to the rule of law and hostile to international investment. Unsurprisingly, they have seen growth and investment collapse. The difference in outcome is stark. The UN’s Economic Commission for Latin America and the Caribbean has for several years reported that countries in the second group have attracted almost no foreign direct investment, and economic growth and job creation have suffered. Read more »
Ecuador News
Poder 360 – Ecuador and Iran Sign Hydroelectricity Agreement
Wednesday, Mar. 10th 2010
Representatives from both countries signed an agreement for the construction of three hydroelectricity plants in Ecuador Read more »Tehran Times – Iran to build power plants in Ecuador
Wednesday, Mar. 10th 2010
Iran plans to build two power plants in Ecuador, First Vice President Mohammad-Reza Rahimi has been reported as saying. “Both sides agreed to expand cooperation in all fields,” he said, on the sidelines of his meeting with Ecuadorian First Vice President Lenin Moreno in Tehran on Sunday, the Islamic Republic of Iran News Network reported. Read more »Latin American Herald Tribune – Ecuador Says It Has “Plan B” If Yasuni Initiative Fails
Monday, Mar. 8th 2010
President Rafael Correa said Saturday his administration has a “plan B” up its sleeve in the event the Yasuni-ITT initiative – a proposal by Ecuador to leave Amazon oil in the ground in exchange for international compensation – is unsuccessful. Read more »