Ecuador says Sacha oil field upfront payment not made

New Stratus Energy

12/03/2025 12:21

QUITO, March 12 (Reuters) - The deadline for a Chinese-Canadian consortium to pay a $1.5 billion upfront payment to Ecuador in order to develop the country's most productive oil block has passed, the energy minister said on Wednesday.

President Daniel Noboa, who is seeking reelection in April, had said the consortium, made up of subsidiaries of Chinese state energy giant Sinopec 600028.SS and Canada's New Stratus Energy NSE.V, had until Tuesday night to make the payment.

 (Reporting by Julia Symmes Cobb)

 ((julia.cobb@thomsonreuters.com; +57-316-389-7187;))