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Contract ensured Petrochina crude for 5 years, until 2016

    In June 2011, Petroecuador signed a new contract for the sale of oil, the fourth with Petrochina International, in which crude was committed until December 2016. In addition, additional five lots per month from January 2017, in case the Pacific Refinery was not ready. Daily...
Posted On 08 Jun 2016
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The OAS will monitor the elections

  The parties point to several irregularities in the process. The CNE will invite international observers in due time. The monitoring plan signed earlier this year by the National Electoral Council (CNE) is not working, they say, and this generates more doubts than...
Posted On 08 Jun 2016
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Crude award was under $ 1 but renegotiable

  In the 2011-203 contract between Petroecuador and PetroChina International an award below a dollar was calculated. The formula used for the price of Ecuadorian crude is the market value for the WTI (West Texas Intermediate), minus a differential (set by the market) plus a...
Posted On 08 Jun 2016
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The Ministry of Finance obtained liquidity from two state oil companies

  Approximately $ 2,000 million of anticipated resources and loans granted since 2014 by the state enterprises Petroamazonas and Petroecuador served to inject liquidity to the Ministry of Finance. The operations are backed by agreements of liquidity management signed between...
Posted On 08 Jun 2016
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Council of Citizen participation votes against the payment of its salaries with electronic money

  The Council of Citizen Participation and Social Control (CPCCS) has decided to vote against that Board members receive their salaries through the electronic money system, an initiative driven by the government of President Rafael Correa.   Four of seven directors have...
Posted On 08 Jun 2016
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Diego Salgado Fernando Alvarado discuss in social networks

A video about the mini series Ciudad Quinde, whose procurement was in charge of the Ministry of Power Market, was the subject of discussion between Assemblyman Diego Salgado of the Creating Opportunities Party (CREO) and Tourism Minister Fernando Alvarado, on Twitter and...
Posted On 08 Jun 2016
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The amendments to the anti-money laundering law provide for a sanctioning body

    Five major changes are proposed in the draft amendments to the Law on Prevention and Eradication of Money Laundering, which is now processed at the Assembly.   The plenary of this body yesterday discussed the document in the debate. Among the most important reforms...
Posted On 08 Jun 2016
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Controversy over judgment against Saraguro protesters

  From last May 30, concierge Maria Lozano and communicator Amable Angamarca have become the visible faces of a legal process for allegedly paralyzing a public service in Loja, in August 2015, not only for being the first sentenced, but also for receiving a sentence of four years...
Posted On 08 Jun 2016
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Nadia Mejia talks about her participation in the Miss USA 2016 in TMZ

  “I have the same face I had when I answered the question (laughs),” said Nadia Mejia, Miss California to TMZ, when asked about how she felt now after replaying her participation in the Miss USA last Sunday.   The daughter of Ecuadorian singer Gerardo Mejia...
Posted On 08 Jun 2016
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