NEW HYDROCARBON LAW SCHEDULED IN ECUADOR

Ecuadorean energy officials expect the national congress to approve a new hydrocarbon law by the end of July. The new law, coupled with revised foreign investment rules issued last January, will set the stage for a sweeping reorganization of Ecuador's oil and gas industry. It will include privatization of nearly all state petroleum companies. State oil and gas company Petroleos del Ecuador is to be recast as a regulatory agency.

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