Ecuador’s hydrocarbons reforms threaten production

Ecuador

The recent measures taken by Opec member Ecuador to further nationalise its oil production have been a cause for concern for foreign investors, leading to fears that production levels, already declining, could fall even more.

A draft reform to the country's hydrocarbons law was pushed through by President Rafael Correa at the end of July without challenge via a constitutional technicality that forces private oil companies to renegotiate their contracts with the state.

The key demand is the gover

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