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News // Oil and gas worldwide

Ecuador Oil Protests Come To End

26 August 2005 , 12:40434
Ecuador oil protesters agreed on Thursday to call a permanent end to violent attacks on oil facilities.

In return, the country's oil companies agreed to make more investments in communities where they operate.

The agreement was reached in talks between the protesters and the energy firms.

The militant protesters had earlier demanded that they not be prosecuted, but the question of immunity was not addressed in the final settlement document, which says the protesters would maintain a "good neighborly" relationship with the government and the private firms.

Under the deal, oil companies will pave 260 km of new roads in the eastern provinces of Sucumbios and Orellana, and about two-thirds of the 25 percent income tax paid by the companies would be spent on undertakings related to local health, environment and development projects.

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