Ecuador: State Oil Company to Cut 300 Jobs
- 9 years ago
The state owned oil company Petroecuador will cut 300 jobs to offset low growth and sluggish world oil prices. Petroecuador general manager said the company is ready to buy light crude from foreign suppliers for the first time in decades. Low world oil prices are reducing the country's export revenue, driving down growth projections for 2015 to just 0.4%, compared to 3.8% last year. teleSUR