Future Of Ecuadorian Oil At Stake As Country Votes For New President ...Middle East

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Future Of Ecuadorian Oil At Stake As Country Votes For New President
source : OILPRICE ( Middle East ) () 30
Ecuador could lose $1.2 billion in annual oil income should a vote to stop production in a major oil block prove successful, the country's energy ministry said on Tuesday. Ecuador's state-run oil company Petroecuador currently produces oil out of three fields from the block in question—the 43-ITT block in the Yasuni area of the Amazon—where it has operated for seven years. The issue of banning oil production in Block 43-ITT made it on the ballot from a referendum that was proposed a decade ago, but approved by a constitutional court…

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