China’s Andes Said to Join Repsol in Ecuador Oil Drilling Freeze

By Nathan Gill and David Wethe  (Bloomberg) — Andes Petroleum Ecuador Ltd. and Repsol SA, Ecuador’s two biggest foreign oil producers, are shelving plans to drill exploratory wells amid a payment dispute with the OPEC nation’s government, according to two people with direct knowledge of the matter.  Andes, owned by China National Petroleum Corp. and… Read More China’s Andes Said to Join Repsol in Ecuador Oil Drilling Freeze

Ecuador Approves New Labor Law With Changes to Public Pensions

By Nathan Gill (Bloomberg) — Ecuador’s congress approved changes to the Andean nation’s labor laws on Tuesday, including the removal of a government subsidy meant to cover almost half of state pensioners’ monthly payments. Lawmakers approved the measure proposed by President Rafael Correa in a 91-to-29 vote, while government supporters and political opposition groups looked… Read More Ecuador Approves New Labor Law With Changes to Public Pensions

GMO Settles With Ecuador Over Bonds That Defaulted in 2009

By Katia Porzecanski and Nathan Gill (Bloomberg) — Grantham, Mayo, Van Otterloo LLC, a Boston-based money manager, dismissed its lawsuit against Ecuador over debt the nation defaulted on six years ago. The parties agreed to dismiss the suit filed in December in Manhattan federal court, agreeing that each side would pay its own costs and… Read More GMO Settles With Ecuador Over Bonds That Defaulted in 2009

GMO Settles With Ecuador Over Bonds That Defaulted Six Years Ago

By Katia Porzecanski and Nathan Gill(Bloomberg) — Grantham, Mayo, Van Otterloo LLC, a Boston-based money manager, dismissed its lawsuit against Ecuador over debt the nation defaulted on six years ago. The parties agreed to dismiss the suit filed in December in Manhattan federal court, agreeing that each side would pay its own costs and that… Read More GMO Settles With Ecuador Over Bonds That Defaulted Six Years Ago