Ecuador misses Schlumberger payment

Ecuador misses Schlumberger payment

Bonds Debt Ecuador

Ecuador has missed a $350m payment to Schlumberger, according to a statement from the oilfield services provider. Oil-exporting Ecuador owed Schlumberger roughly $1.1bn in debt earlier this year and has trimmed this down to approximately $850m. “The company registers the failure to pay $350m, out of a debt recognized by Ecuador’s ministry of finance of $850m and, which has been paid in installments with a series of delays,” Schlumberger said in its statement. Ecuador’s state-run oil company Petr

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