China stumps up one billion dollars for Ecuador crude
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
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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 |
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