Tag: Oil

Ecuador Landslide Deepens Virus Crisis as Oil Pipelines Severed for Weeks

Landslides severed Ecuador’s two oil pipelines last week, spilling heavy crude into the Coca River in the country’s northeastern Amazon region. Now, amid the ongoing coronavirus crisis, pipeline operators OCP Ecuador and Petroecuador are deploying humanitarian aid to communities downstream and trying to halt the oil before it reaches the Amazon. Emergency teams are also… Read More Ecuador Landslide Deepens Virus Crisis as Oil Pipelines Severed for Weeks

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Urban Popular Politics and the Making of Modern Venezuela: Review

Alejandro Velasco, Barrio Rising: Urban Popular Politics and the Making of Modern Venezuela (Oakland, California: University of California Press, 2015). Alejandro Velasco’s Barrio Rising: Urban Popular Politics and the Making of Modern Venezuela (2015) uses the Caracas superblock housing complex, known today as 23 de Enero, to analyze Venezuela’s transition from the dictatorship of Marcos… Read More Urban Popular Politics and the Making of Modern Venezuela: Review

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Latin America Oil Producers Call for Action to Improve Prices

By Nathan Gill and Andrew Willis April 8, 2016 (Bloomberg News) — Oil-producing countries must take the necessary steps to stabilize the global crude market in a bid to improve prices, Ecuador Foreign Minister Guillaume Long said on behalf of Latin American nations after a gathering in Quito. Waiting for the market to balance itself would… Read More Latin America Oil Producers Call for Action to Improve Prices

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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

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Ecuador’s Dollar Reliance Worsens Impact of Oil, Correa Says

By Nathan Gill(Bloomberg) — President Rafael Correa, a former economics professor critical of Ecuador’s use of the dollar as its official currency, said the greenback is worsening the impact of falling crude prices as liquidity in the economy contracts. The reliance on the dollar means the government can’t print more money to increase the amount… Read More Ecuador’s Dollar Reliance Worsens Impact of Oil, Correa Says

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China Rescues Ecuador Budget From Deeper Cuts as Crude Drops

(Originally published by Bloomberg News) By Nathan Gill            (Bloomberg) — Ecuador, an OPEC nation that relies on crude for about a quarter of revenue, obtained enough financing from China to avoid deeper budget cuts even as its oil price fell below $40 a barrel, Finance Minister Fausto Herrera said. The Latin American country expects total… Read More China Rescues Ecuador Budget From Deeper Cuts as Crude Drops

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