Petroecuador to turn its subsidiaries into independent companies

Jul 06, 2000 02:00 AM

The Ecuadorian government has presented to the Congress a draft bill project to restructure Petroecuador, turning its subsidiaries Petroproduccion, Petroindustrial, and Petrocomercial, into independent companies allowed to seek partnerships to develop their activities.
However, they will not be privatised. The bill also points to tender oil production areas from Petroecuador raising funds to invest in the hydrocarbons infrastructure.

Source: Bridge News via Newspage
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