Sentences with phrase «itt oil»

But the proposal was widely popular with Ecuadorians, with polling at one point showing 93 % of the population in favor of keeping the ITT oil in the ground.

First Barrels of Amazon Crude from Ecuador's ITT Oil Fields in Yasuní National Park Likely Destined for United States

Not exact matches

Recently, Ecuador nearly doubled its estimates of the ITT block's reserves, although even this amount is equal to merely seventeen days of global oil consumption.

The drilling comes after President Rafael Correa abandoned an innovative proposal to keep the oil from the three ITT fields permanently in the ground in exchange for international contributions totaling half its projected forgone revenue.

Tomorrow, Ecuadorian state oil company Petroamazonas will produce the first barrel of commercial crude from the ITT (Ishpingo, Tambococha, Tiputini) fields that lie beneath Yasuní National Park, an area that some scientists have called the most biodiverse rainforest on Earth.

Launched in mid-2010 after 3 years of technical consultation, the Yasuni ITT project was lauded by foreign governments and environmental groups as an innovative way to fight global warming: Not exploiting the Ishpingo - Tambococha - Tiputini (ITT) oilfields in Yasuni National Park will, according to the United Nations Development Programme (UNDP), prevent the emissions of around 410 million metric tons of carbon dioxide — equivalent to the annual emissions of France and accounting for 20 % of Ecuador's known oil reserves.

After receiving pledges totaling more than its goal of $ 100 million by a year - end deadline, the Ecuadorian government last week announced that it would move forward with the so - called Yasuni ITT Initiative, an innovative plan to leave untapped more than 900 million barrels of crude oil beneath a pristine Amazonian nature reserve, in exchange for annual international donations.

There are some interesting situations coming down the line, the Marathon Oil split up, the ITT split up, the SaraLee recap and split up and, last but not least, the CVRs from the Genzyme acquisition.

The Ecuadorean government has been promoting a plan, the Yasuní - ITT Initiative, which would leave the park's largest oil reserves permanently undeveloped.

In August, the Ecuadoran government announced it was dropping a bold proposal to keep oil drilling out of Yasuni National Park's ITT blocs.