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, August 08, 2007

Ecuador: Revising Foreign Oil Contracts

Stratfor, August 7, 2007
The Ecuadorian government plans to revise the contract terms of all foreign oil companies operating in Ecuador, not just those of Spanish Repsol YPF, Ecuadorian President Rafael Correa said Aug. 6 after meeting with Spanish Deputy Prime Minister Maria Teresa Fernandez de la Vega. Correa said Spanish telecommunications operator Telefonica's mobile concession, Movistar, and Mexican tycoon Carlos Slim's Porta mobile operator must be ready for "tough negotiations" as Ecuador seeks to nationalize key sectors of its economy.

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