Ecuador's president, Rafael Correa, flanked by vice president Lenin Moreno (left) and security minister Homero Areliano (photo:dpa)

Energy: Ecuador changes the rules on contracts

Ecuador's president, Rafael Correa, took his country back into OPEC after a 15-year absence. He has also taken an aggressive stance towards foreign companies in the oil sector. GIS expert, Dr Joseph S. Tulchin gives this briefing on Mr Correa's impact on Ecuador's energy sector.

ECUADOR has been politically unstable for years. There have been nine different presidents between 1996 and 1998.

Rafael Correa, elected in 2006, could be the first president to finish a presidential term of office since Sixto Duran Ballen who governed from 1992 to 1996.

Whether Mr Correa, a 48-year-old economist, makes it ...

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Dr. Joseph S. Tulchin
Ecuador has potential reserves of 4.7million barrels of oil and gas and access to the Pacific coast markets
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