June 01, 2005 | By Keith Martin in Washington, DC
ECUADOR is moving to collect $282 million in back taxes from 21 foreign oil companies.
The taxes are from the period 1998 through 2001. Among the companies being investigated are Occidental Petroleum, Repsol and EnCana.The move to collect taxes comes on the heels of an announcement that contracts with the state-owned oil company, Petroecuador, must be renegotiated. Petroecuador controls more than 60% of oil output in the country.