The Ecuadorian government has threatened to take over foreign oil concessions ... - BBC News

The Ecuadorian government has threatened to take over foreign oil concessions if the companies resist growing state control of the industry.

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President Rafael Correa said every day millions of dollars were going to oil companies that should go to the state.

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The government has been pressing the companies to give up concessions that give them a share of oil field profits and accept service contracts instead.

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Full Story: The Ecuadorian government has threatened to take over foreign oil concessions ... - BBC News