Ecuador to fulfil oil contracts with Venezuelan crude

Ecuador will fulfil its international oil contracts with crude lent by Venezuela announced Venezuelan president Hugo Chavez.
The administration of Ecuadorian president Alfredo Palacio faces a serious economic backlash because the oil producing areas in the Amazon have been forced to close down by labour and regional strife putting exports at risk.

Negotiations to address the dispute have begun but in the meantime Venezuela, responding to a request from the Palacio administration, will supply Ecuador’s clients.
“Ecuadorians have requested our help. I’m going to say it straight and loud, we’re going to lend them oil. The contracts Ecuador have been so far unable to fulfil, and possibly in the coming days, Venezuela will comply with them”.
Mr Chavez said Ecuador “won’t have to pay a cent for that oil; they’ll return it to us when they recover and I’m convinced they will recover”.

The Venezuelan president made the announcement during his Sunday radio and television program “Alo president”, which on this occasion was broadcasted from Havana and shared with Cuban leader Fidel Castro.
Ecuador’s government owned oil company PetroEcuador was forced to suspend daily exports of 144,000 barrels and the government invoked extraordinary circumstances to avoid sanctions from buyers. PetroEcuador shut down production, which is the main source of foreign income and revenue for Ecuador, following protests in the Amazon provinces of Sucumbios and Orellana mainly against foreign oil corporations operating in the area.

President Chavez recalled that Venezuela went through a similar situation in 2003 during the 63 days national strike promoted by opposition organizations which completely paralysed the oil and gas industry.
“We went through very hard times”, said Mr Chavez who also remembered that Brazil sent a tanker of fuel to help alleviate the energy crisis. “It was an imperialist aggression”, underlined Mr Chavez who claimed United States was behind the strike.

During the “Alo president” program together with Fidel Castro, President Chavez also rejected US Defence Secretary Donald Rumsfeld accusations that Cuba and Venezuela have “destabilizing behaviours” Mr Rumsfeld during a recent visit to South America claimed that Venezuela and Cuba are interested in politically destabilizing Ecuador and Bolivia.
“The only destabilizing force in the area has always been United States with their hegemonic insistence, with their neo-liberal policies, military dictatorships, invasions, coup d’état, communications interferences and the lackeys they’ve grown”, blasted Chavez.