Ecuador oil for PetroChina.

OFFICIAL NAME: Republic of Ecuador
GeographyArea: 276,840 sq. km; about the size of Colorado.
Cities: Capital--Quito (pop. 2 million).
Languages: Spanish (official).
Independence: May 24, 1822 (from Spain).
Natural resources: Petroleum, fish, shrimp, timber, gold, copper.
Agriculture Products--bananas, seafood, flowers, coffee, cacao, sugar, tropical fruits, palm oil, palm hearts, rice, corn, and livestock .
Currency: U.S. dollar.
The World Economic Forum's Global Competitiveness Index rated Ecuador 105th out of 133 countries for 2009.
Main Stock Exchange:Bolsa De Valores de Ecuador.

Central Bank:Banco Central Del Ecuador

State-owned PetroChina is negotiating with Ecuador for future oil purchases of 96,000 barrels per day over two years, in a move to diversify its oil import sources.
PetroChina is talking with the South American country for an advance payment of $1 billion for the future oil purchases, Diego Borja, minister of economic policy coordination of Ecuador, told Dow Jones.
As part of the negotiations, Ecuador is asking that China uses the crude oil for final consumption and doesn't sell it to Peru or Chile as that would distort the market, Borja said.
PetroChina has been present in Ecuador since 2003 and now operates two projects in the country. It also provides oilfield services.
In 2003 PetroChina took over an oil block in eastern Ecuador from Petroecuador, and started oil and gas exploration and development in this block. In 2005, PetroChina and Sinopec jointly purchased oil and gas assets from Encana in Ecuador, and established Andes Petroleum Ecuador Ltd, with CNPC holding a 55 percent share.

The Dow on wednesday 25/11/09 is 16 market days to Quadraple Witching Day.

Asian Index Futures Expiry:2 market day to go.
9:30am:--A gap down opener but bulls immediately filled the gap.

10:30am:--First hour shooting star pullback met by a bullish harami.

11:30am:--Second hour session high with slight pullback being checked by inverted bulls.

12:30noon:--Time for morning session correction by dragging it to MAV support.

1:30pm:--Consolidating above the MAV line with indecision doji.

2:30pm:--Ascending soldiers being hit by shooting stars.

3:30pm:--Holding position at the bull pivot with intermittent bears sniper attack.

4:00pm:--Bullish engulfing.

It's a walkover for the bulls.The targeted breakout of the 52 weeks high is quite possible to be materialised in the near term.

With all the stimulus package and a disastrous US dollar holding for nearly a year,the aftermath results will augurs well for the US economy on the whole.

This month must be the best performer having secured over 780.0 points for the Dow.