Reflection: How about Indonesia whose president is ex general. Will he
and his renegociate the oil and gas contracts for the benefit for the
Indonesian peole? Is he afraid because he was a general without army and is a
president not for the people?
http://www.bbc.co.uk/worldservice/learningenglish/newsenglish/witn/
09 September, 2005 - Published 11:13 GMT
Ecuador to discuss oil contracts
The President of Ecuador has said that he wants to discuss oil contracts
with foreign oil companies to get a bigger share of the profits. The
announcement followed several days of public protests which almost stopped all
oil production in the country. This report from Tom Gibb:
Listen to the story
One of the main demands of the recent protests was that Ecuador should
get a bigger share of oil profits. President Alfredo Palacio said that at the
moment Ecuador receives about twenty percent of the profits, while eighty
percent goes to oil companies. He said that in the interests of justice and
equality this should change to give the country at least a fifty percent share.
The government also complains that because of the way the contracts work,
the country has not benefited from record oil prices. President Palacio, in a
televised interview, said that he'd already been in touch with the oil
companies, who were prepared to renegotiate their contracts. Oil companies from
eight different countries, including the United States, Spain, China and
Brazil, operate in the Ecuadorean Amazon. The country is the fifth largest
producer in Latin America.
Last month protestors virtually paralysed the industry. The government
accused them of seriously damaging the state's oil infrastructure, forcing the
country to stop exporting in the second half of August
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