ENERGY TECH
China stumps up one billion dollars for Ecuador crude

Ecuador is OPEC's smallest-producing member.
by Staff Writers
 Quito (AFP) July 24, 2009
 China has agreed to pay Ecuador one billion dollars in August as part of a deal to supply the energy-thirsty Asian giant with crude oil.

State-run Petroecuador said a deal inked on Thursday committed Beijing to pay the sum next month, a payment worth 28 percent of the total contract.

Under the deal China will receive millions of barrels of oil over two years.

Ecuador is OPEC's smallest-producing member, pumping out around 500,000 barrels of crude a day.

Share This Article With Planet Earth
del.icio.usdel.icio.us DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook



Related Links
 Powering The World in the 21st Century at Energy-Daily.com

ENERGY TECH
Iraq's future hinges on shielding oil
 Baghdad (UPI) Jul 23, 2009
As Iraq struggles to stand on its own two feet amid a U.S. military pullback, the country's future depends largely on protecting its formidable oil wealth. But there are substantial concerns that sectarian and political rivalries will do what al-Qaida and other insurgent groups were unable to -- cripple the badly battered oil industry that has kept Iraq unified for decades -- or turn ... read more
The content herein, unless otherwise known to be public domain, are Copyright 1995-2009 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement