PetroEcuador Buys Crude Oil From Perenco, French-British Oil Company

Posted on July 18, 2011 • Filed under: Conflicts, Ecuador, Oil, Politics
  • reports that PetroEcuador, the state owned oil company in Ecuador, has bought 636,041 barrels of crude oil from Perenco.
  • The purchase is valued at $68.01 million.
  • Officials say the purchase served as a way to cancel the debt Perenco had with the Ecuadorian government for not paying the surplus on the increase in oil prices.
  • Ecuador has a long-standing contract dispute with Perenco.Read Article
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