Ecuador clears Petrobras for Block 31 oilfield

ahedgehog — Tue, 23 Oct 2007 20:25:15 +0000

QUITO, Oct 23 (Reuters) – Ecuador has authorized an environmental permit for Brazil’s Petrobras to develop the Block 31 oilfield in the Amazon region, which should start production in 2009, President Rafael Correa said on Tuesday.
Read more here

Ecuador – Having it Both Ways – To Be Green or to Be Rich

ahedgehog — Thu, 21 Jun 2007 20:21:54 +0000

THE Yasuní National Park in Ecuador’s Amazonian rainforest is one of the most biodiverse spots on earth. In 1989 it was designated a UNESCO Biosphere Reserve. Under it lie the Ishpingo Tambococha Tiputini oilfields with estimated reserves of almost 1 billion barrels, representing almost a quarter of the country’s total known reserves. Their exploitation could produce around $700m a year—a big temptation for Ecuador’s leftist president, Rafael Correa, who is anxious to find a way to finance his new populist social policies. But he has also pledged to promote environmentally friendly policies, and this often clashes with his need for cash.
Read more here

The Pimm Group » Yasuni Rainforest

Ecuador clears Petrobras for Block 31 oilfield

Ecuador – Having it Both Ways – To Be Green or to Be Rich