Financial Times FT.com

Ecuador seizes Perenco oil fields

By Naomi Mapstone in Lima

Published: July 17 2009 01:45 | Last updated: July 17 2009 01:45

Ecuador has seized control of oil fields operated by France’s Perenco as part of a long-running tax dispute that threatens production of 21,000 barrels a day.

The country, under leftist president Rafael Correa, had already begun to expropriate oil from the Perenco concessions four months ago, saying it owed $327m in back taxes.

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