Ecuador’s President Daniel Noboa has ordered a consortium seeking to take over the nation’s top oil asset to pay an entry fee of $1.5 billion by March 11, moving up the deadline by more than three weeks.
Argentina’s Petrochemical Comodoro Rivadavia SA, through subsidiary PCR Ecuador, discovered oil in a petroleum block 90-Sahino in southwest Ecuador and will carry out extended tests for 90 days, starting this month.