• ENGLISH
  • ESPAÑOL
facebook
twitter
  • National>Entertainment
  • National>Local Economics
  • National>Local Politics
  • National>Society
  • National>Sports
BREAKING NEWS
The Government withdraws from the dialogue table after the death of a soldier
Popular oil would arrive in stores from this week at prices ranging from $1 to $1.25
Legislators denounce pressure and threats to vote for the removal of the President of the Republic, Guillermo Lasso
Conaie agrees to meet with representatives of all State powers
Ecuador’s oil production falls 51% due to national strike
Guillermo Lasso announces that the National Police and the Armed Forces will act with the necessary means to defend public order and democracy
“Cacerolazo” for Peace in Quito
Contecon will extend the free storage time by 40%, in support of the export sector affected by strikes
76.4% of Ecuadorians consider that the national strike should end after the dialogue, according to Cedatos
BanEcuador will forgive debts of up to USD 3,000 to 9% of its clients

Glas, Capaya, and Pástor, mentioned by the National Audit Office in alleged oil damage

Posted On 03 Aug 2017

Ecuadornews:

 

 

The National Audit Office has found evidence of criminal responsibility in the award process of the Singue oil well, located in Sucumbíos, whose exploitation was assigned to the DGC Consortium.

The contract was signed on March 21, 2012, by the then Minister of Non-Renewable Resources Wilson Pástor. The report of the agency notes that the Bid Committee of this contract was made up by Vice President Jorge Glas, the then Petroecuador Refining Manager Carlos Pareja Yannuzzelli, and legal coordinator of the Ministry of Non-Renewable Resources Maria Lorena Espinoza. The controlling agency states that this committee approved the report that recommended the award of the contract to the DGC consortium and the Gente Oil Ecuador Pte. Ltd. company. The latter company was managed by Silvana Pástor, daughter of the former Minister of Non-Renewable Resources.

The National Audit Office found in its examination that the negotiating team calculated the internal rate of return without a legal basis: Only 80% and not 100% of the officially recognized remaining reserves of this well were included in the contract, scheduled for 20 years. According to the agency, as of September 30, 2016, 144% of what had been planned for 20 years was exploited.

It was planned that only 2.04 million barrels of oil would be extracted in that span. Overexploitation reached 244%. And although the contractor annually reported on its operating figures, the Hydrocarbons Secretariat never took action to renegotiate the tariff. Thus, a loss for the State estimated at $ 5.2 million that was paid to the DGC consortium and the Gente Oil Ecuador Pte. Ltd. was detected. (I)

 

 

Source: http://www.larepublica.ec/blog/portada/2017/08/02/glas-capaya-y-pastor-mencionados-por-contraloria-en-supuesto-perjuicio-por-pozo-petrolero/

About the Author
  • google-share
Previous Story

Jorge Glas to Lenin Moreno: “Are you preparing the ground to persecute your old companions and quench your thirst for revenge?

Next Story

Odebrecht informer says that he paid Glas bribes for $ 14 million

SEARCH

LATEST NEWS

The Government withdraws from the dialogue table after the death of a soldier

Posted On 28 Jun 2022

Popular oil would arrive in stores from this week at prices ranging from $1 to $1.25

Posted On 28 Jun 2022

Legislators denounce pressure and threats to vote for the removal of the President of the Republic, Guillermo Lasso

Posted On 28 Jun 2022
Copyright © 2010 - 2019. All Rights Reserved. EcuadorTimes.net