PETROECUADOR INHERITS TEXACO VENTURE'S HELM

Petroleos del Ecuador has taken over as operator of its joint venture with Texaco Inc. that accounts for more than two thirds of Ecuador's crude oil production. Depending upon the outcome of a separate Texaco proposal involving a tertiary oil recovery project, the move could presage Texaco's exit from Ecuador in 2 years. Petroecuador is pressing efforts to boost production from the joint venture area in the central Oriente jungle region.