Ecuador Presidential Hopeful Villavicencio Pledges to Renegotiate Oil Deals
- Villavicencio says contracts awarded have been too generous
- Candidate says soaring crime rate is a damp on the economy
Fernando Villavicencio
Photographer: Ernesto Benavides/AFP/Getty ImagesThis article is for subscribers only.
One of Ecuador’s most prominent presidential hopefuls pledged to renegotiate contracts with foreign oil and mining companies and to take a tough line on the drug cartels behind a surge in violence.
Fernando Villavicencio, who was an independent lawmaker until congress was dissolved this week, criticized as overly generous contracts awarded to companies including PetroChina Co., Halliburton Co. and SLB, which was formerly known as Schlumberger.