New Ecuadorian govt. suspends oil pipeline tender

Feb 14, 1997 01:00 AM

Ecuador's government suspended a tender to build a pipeline to carry oil from the interior of the country to the coast, Energy Minister Raul Baca said. The minister said the tender will have to be suspended because of a "lack of transparency" in the tender process started by the previous government of President Abdala Bucaram. Baca made the statements after being appointed energy minister by the government of President Fabian Alarcon earlier. Alarcon became the interim president of Ecuador this week after Congress ousted Bucaram on grounds of mental incapacity. "We will have to carry out a serious analysis in the ministry to find out what is wrong and only then will we make statements about the future of this tender," said Baca. After the announcement of the tender by the previous government, state oil company Petroecuador announced that Argentine firms Perez Company and YPF in addition to Enron were interested in the tender.

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