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Reuters – Ecuador hopes to negotiate oil deals before yr-end

Date: Jun 10, 2010

Ecuador’s leftist President Rafael Correa said on Wednesday he hopes to finish negotiating new contracts with oil companies in the OPEC nation before the end of the year.

The smallest member of OPEC, Ecuador has been trying to renegotiate contracts with private oil companies for two years to improve the state’s share of profits.

Correa made the comments after meeting Peru’s President Alan Garcia in Lima.