Ecuador lines up Schlumberger payment

Ecuador lines up Schlumberger payment

Debt Ecuador Bonds

Ecuador's oil ministry said in a statement it will settle a $300m debt payment with Schlumberger by the end of this month. The announcement comes after the oilfield services provider said Ecuador's state-run oil unit Petroamazonas had missed a $350m payment due to Schlumberger. Oil-exporting Ecuador will pay $100m in cash this month and spread out the remaining $200m over the next five years. Schlumberger was owed roughly $1.1bn from Ecuador earlier this year, which the sovereign issuer has s

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