AP - New law in Ecuador means state gets to sell oil, companies earn flat fee for extracting it – The Amazon Post

Chevron's Views
And Opinions On
The Ecuador Lawsuit.

AP – New law in Ecuador means state gets to sell oil, companies earn flat fee for extracting it

Date: Jul 28, 2010

New Ecuador law is in effect:

Oil companies operating in Ecuador will no longer hold a stake in the oil they produce but instead receive a set production fee under new rules put in place Tuesday by the government of leftist President Rafael Correa.

Read More »