2008/08/25

Some mining companies decide to stay in mine-field Ecuador

Despite the tumultuous political climate in the country, some oil companies have decided to sit down with the Government and negociate. Petrobras (Brazil), Repsol (Spain) and Andes Petroleum (China) are the companies who have made good with the Government, despite the legal spider-web that President Correa has woven around the energy sector over the past 10 months.

These companies are braving this storm in spite of the investor-hostile environment the country displays at present. Let's hope their stay is a good precedent for others in similar positions.

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