Ecuador talks with 1 billion U.S. dollars in China oil deal

Ecuadorian Minister of Economic Policy Coordination Minister Diego Borja said to Dow Jones Newswires, Ecuador is working with PetroChina to negotiate, to negotiate one billion U.S. dollars in advance for the next two years to buy 96,000 barrels a day Oriente and Napo crude oil issues.

Borja said that as part of the negotiations, Ecuador will ask the Chinese for the final consumption of crude oil can not be sold to Peru or Chile, in order to avoid confusion in the market. But he added that Chinese companies could be resold to other regions. Ecuadorian President Rafael Correa last Saturday (July 11) released a week the media said that the Ecuador in the next few days will be one billion U.S. dollars to obtain credit. Borja said that Ecuador is in China is also on a 4-year one billion U.S. dollars of loan negotiations.

Jul. 18, 2009

U.S. oil and gas drilling in the second quarter fell 46 percent the number of

July 13 New York news, the American Petroleum Institute (API) Monday said the U.S. oil and gas drilling in the second quarter than the same period last year dropped 46%. Completion of the second quarter of U.S. oil wells, gas wells and dry wells was estimated to be 8038, which is since 2003 the lowest level.

According to API, said the second quarter of U.S. oil and gas exploration in the number of wells drilled declined 63 percent year-on-year to 336, the development of wells to 46 percent decline in 6761.

API estimates the second quarter of U.S. natural gas wells completed for 4225, up 43 percent decline, which is the largest decline over the past decade, a quarter, while year-on-year decline in the number of wells completed about 53%.

Jul. 14, 2009