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Discussion of oil production in Ecuador today:

Repsol is the largest private oil company operating in Ecuador, a country where the total crude output amounts to roughly 500.000 bpd.

Besides Block 16, Repsol also is producing 4,000 bpd at the Tivacuno Block, in both cases under a service contract with state-owned oil company Petroecuador. Both of those Amazon areas are considered mature fields due to their age and because output is in decline as steadily increasing amounts of water – and lower quantities of oil – are extracted.

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Ecuador government may approve oil drilling in area just outside of Yasuni where indigenous tribes live:

A ban on drilling in the Yasuní-ITT oil field would only partly satisfy environmentalists and defenders of indigenous rights. Another oil lease near that field also overlaps territory used by the semi-nomadic Tagaeri and Taromenane, and the government plans to auction off a dozen more leases in the central and southern Amazon, affecting as many as seven other communities of Indigenous Peoples.

Correa’s critics say it is contradictory to offer to save the Yasuní-ITT area while moving ahead with oil exploration elsewhere in the Amazon. They also say the president is undermining the Yasuní-ITT initiative’s credibility by threatening to go ahead with plans for drilling in that area if Ecuador does not collect $100 million by this December.

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News about the development of natural resources in the country where the Chevron Ecuador trial has taken place:

Ecuador is about to take a giant leap toward becoming a big gold (GC-FT1,732.200.400.02%) and copper (HG-FT3.590.010.32%) exporter, but President Rafael Correa must soften his stance toward investors if he wants the country to realize its full mining potential.

Despite having a bounty of copper, gold and silver (SI-FT32.70-0.04-0.12%) resources, the Andean country has no mining industry to speak of and the leftist president has effectively delayed mining investments for years while redrawing rules for the sector.

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Ecuador to receive money from Europe:

Ecuador expects to receive $100 million to $150 million in financing next year from the European Investment Bank, according to information provided to Dow Jones Newswires by the finance ministry.

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Update on Ecuador’s efforts to obtain funding from foreign countries in exchange for not drilling for oil  in a rainforest reserve:

An innovative Ecuadorean plan to leave more than 900 million barrels of crude oil untapped and beneath a pristine nature reserve, in exchange for international donations, has survived its first deadline, Ivonne Baki, the project coordinator told The Miami Herald.

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Al Jazeera reports on freedom of speech issues in Ecuador. A discussion of this and other videos are available on Al Jazeera’s website at the link below:

Before Correa came to power, the state controlled only one radio station. However, in 2008 a number of media outlets were seized, including two television stations. According to Fundamedios, an Ecuadorian free media advocacy group, the government uses these stations as “tools for political communication” although they are officially considered private media.

A number of the state’s critics have been taken to court, charged with criminal and civil defamation by the president and his allies. Correa insists he is battling a small group of irresponsible journalists bent on taking down his “revolutionary government” while critics say court cases are generating a culture of self-censorship. According to Fundamedios, there have been close to 400 violations of the media’s freedom of expression since January 2008.

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Discussion of security issues in Ecuador, the country where the Chevron Ecuador trial has taken place:

Quito’s police chief has warned that the Ecuadorian security forces may be involved in organized crime, noting that the professionalism of some attacks carried out in the city suggest that criminal gangs have had military-style training. … Ecuador has shown signs of becoming a new hotspot for transnational organized crime in recent years. Transnational criminal gangs from Colombia and Mexico are thought to be increasing their presence in the country, prompting a U.S. drug official to refer to country as the “UN of organized crime” in July.

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The following is a highly critical piece on Ecuador President Rafael Correa’s interactions with his country’s media:

With the explosive rise to power of the current President Rafael Correa, the relationship between the media and the government has all but self-destructed. The President considers the private media and its journalists as “corrupt,” “mediocre,” “liars,” and “ink assassins.” In the absence of formidable political adversaries, Correa has transformed the private media into his most lethal rivals. At the same time, the media does not possess the necessary sophistication to deal with an opponent as unpredictable and talented as Correa, and therefore have proceeded to repeatedly fall into Correa’s trap, assuming the frontline role of the implacable opposition.

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