Via Boomberg, a report on Marathon’s purchase of Ecuadorian oil to make up for Russian crude: Marathon Petroleum Corp., previously the largest U.S. buyer of Russian oil, just beefed up supplies of Ecuadorian crude after sanctions cut off its supplies from Moscow. The Findlay, Ohio-based fuelmaker offered a 75-cent premium over the price marker for […]
Read more »Courtesy of The New York Times, an interesting look at China’s investment in Ecuador and elsewhere, as it uses its economic clout to win diplomatic allies and secure natural resources around the world: Where the Andean foothills dip into the Amazon jungle, nearly 1,000 Chinese engineers and workers have been pouring concrete for a dam […]
Read more »Via Reuters, an interesting article on China’s control of Ecuador’s oil: China’s aggressive quest for foreign oil has reached a new milestone, according to records reviewed by Reuters: near monopoly control of crude exports from an OPEC nation, Ecuador. Last November, Marco Calvopiña, the general manager of Ecuador’s state oil company PetroEcuador, was dispatched to […]
Read more »Courtesy of Upstream Online, a look at Angola’s Sonangol Group’s interest in investing in Ecuador’s Amazon region. As the report notes: “…Angola’s oil minister and Opec president, Jose Maria Botelho de Vasconcelos, will travel to Ecuador at the end of October to discuss Sonangol’s investment in Ecuador, Jaramillo said during a meeting with foreign journalists. […]
Read more »Via Energy Daily, a report that China is close to inking a one-billion-dollar deal to receive Ecuadorian oil. As the article notes: “…China has offered us initial capital worth one billion dollars for infrastructure projects, we are going to pay little by little with our oil,” Correa said during a weekly television address. The deal […]
Read more »Via Portfolio, an article extolling the investment opportunities in Africa and Ecuador. As the report notes: “…His big idea, as glossed this speech, is that poor resource-rich countries, such as a lot of African states, are largely immune from the global financial crisis since they were never really part of the global financial system to […]
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