Petrobras still mulling new Ecuador oil contract
RIO DE JANEIRO, Aug 8 (Reuters) - Brazil's state-run oil company Petrobras (PBR.N: Quote, Profile, Research, Stock Buzz) (PETR4.SA: Quote, Profile, Research, Stock Buzz) is still considering whether it will accept a new contract in Ecuador that would turn it into a service provider, the company's international director, Jorge Luiz Zelada, said on Friday.
On Thursday, Ecuadorean Oil Minister Galo Chiriboga told Reuters that Petrobras had agreed to switch to a new contract making it only a contractor, and marking a victory for President Rafael Correa in his drive to boost his control over the oil sector.
The new service deal means the company will be paid a service fee for extracting oil instead of keeping some of the crude. (Reporting by Denise Luna; Writing by Reese Ewing)
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