ASSESSMENTS

Ecuador: Correa's Play for Greater Influence in the Oil Sector

Apr 21, 2010 | 10:23 GMT

RODRIGO BUENDIA/AFP/Getty Images

Summary

Ecuadorean President Rafael Correa is pressuring foreign oil investors to change from production-sharing agreements to service contracts, or else face expropriation. Correa is looking to enhance the state's authority over oil revenues and thus enhance his own political security, but is making the move at the expense of Ecuador's long-term economic development.

Ecuadorian President Rafael Correa's move to increase state authority over the oil sector will likely damage Ecuador's long-term investment growth....

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