ECUADOR STILL GRAPPLING OVER PRIVATIZATION AS OIL FLOW RISES

Ecuador continues to grapple with efforts to privatize its petroleum sector a year after disclosing its plans to withdraw from the Organization of Petroleum Exporting Countries. One of OPEC's smallest members, Ecuador last year said it would leave the group in March 1993, citing high membership costs and minimal benefits (OGJ, Nov. 9, 1992, Newsletter). Industry observers also noted at the time Ecuador's plans to sharply boost production this century might run afoul of its OPEC quota.

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