Ecuador Says It Won’t Take Oxy Pipeline Stake
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From Reuters
Ecuadorean Energy Minister Ivan Rodriguez said the South American country would not take over Occidental Petroleum Corp.’s stake in the OCP pipeline, a day after the head of state oil company Petroecuador said it would seize that stake.
“The OCP is a private investment of Occidental and therefore has nothing to do” with the annulment of the contract, Rodriguez told reporters.
Shares of Westwood-based Occidental fell 20 cents to $93.87.
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