International Business
- Share via
Oxy in Venture With Petroecuador: Occidental Petroleum Corp. will invest $500 million in a crude oil exploration and production venture with state-run oil company Petroecuador, said Jorge Pareja, Ecuador’s energy minister. The signing should take place within the next two weeks. Pareja said the agreement calls for the Los Angeles-based company to explore for crude oil in Ecuador’s eastern jungle zone over the next 20 years. Pareja said that there is no figure on the amount of crude oil that could be tapped in the area.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
