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Ecuador says Sacha oil field upfront payment not made
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Ecuador says Sacha oil field upfront payment not made
Mar 12, 2025 5:51 AM

QUITO, March 12 (Reuters) - The deadline for a

Chinese-Canadian consortium to pay a $1.5 billion upfront

payment to Ecuador in order to develop the country's most

productive oil block has passed, the energy minister said on

Wednesday.

President Daniel Noboa, who is seeking reelection in April,

had said the consortium, made up of subsidiaries of Chinese

state energy giant Sinopec and Canada's New Stratus

Energy ( RDRIF ), had until Tuesday night to make the payment.

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