Noble Energy (NBL)

Ecuador said it may buy a power plant from a unit of the U.S.’s Noble Energy Inc. as the government broadens state control of domestic energy production.
“They have proposed the sale and we are interested,” Borja said in a telephone interview yesterday from Guayaquil, Ecuador. “It will be negotiated.” President Rafael Correa is tightening state control over the nation’s oil, natural gas and electricity production since taking office in 2007. Last month, the government said it began the process to cancel the natural-gas exploration and production contract belonging to Noble Energy’s EDC Ecuador Ltd. unit.

Feb 11 · 11:41:00 AM · Source: Business Week
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by Michael Oliveto