The people of Ecuador are rising up to refound their country as a pluri-national homeland for all. This inspiring movement, with Ecuador's indigenous peoples at its heart, is part of the revolution spreading across the Americas, laying the groundwork for a new, fairer, world. Ecuador Rising aims to bring news and analysis of events unfolding in Ecuador to english speakers.

Wednesday, April 11, 2007

Quito wants to partner Pdvsa in R&D

El Universal, April 9, 2007

Ecuadorian President Rafael Correa included Monday Venezuela in its list of potential partners to develop the largest oil reserve in Ecuador.

"The involvement of (state-run oil holding Petróleos de Venezuela) Pdvsa has been considered. If it wants to join us, it will be welcome," Correa said.

The ruler expanded this way an initial association with state corporations from China, Brazil and Chile, AFP quoted.

Correa explained that the government would opt for such partnership in the event of not receiving a global indemnity for not extracting about 950,000 barrels in the Ecuadorian Amazonia.

"If the world community is worried about environmental issues, then it should indemnify us. In this way, the ITT (Ishpingo-Tambococha-Tiputini) fields could remain unexploited. Another scenario is a strategic alliance," the ruler added.

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