International Business
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.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
