QUITO, July 23 - Ecuador has signed a deal to export crude oil to China for which the Andean country is going to receive $1 billion as an advance payment, state-run Petroecuador said on Thursday.
Ecuador will receive the $1 billion in the first week of August, Petroecuador said in a statement.
The OPEC-member country has agreed to export nearly 3 million barrels a month to China for the next two years.
Petroecuador said that the $1 billion represents approximately 28 percent of the total value of the oil that Ecuador has agreed to export to China.
Ecuador will receive the $1 billion in the first week of August, Petroecuador said in a statement.
The OPEC-member country has agreed to export nearly 3 million barrels a month to China for the next two years.
Petroecuador said that the $1 billion represents approximately 28 percent of the total value of the oil that Ecuador has agreed to export to China.
