Ecuador said it may buy a power plant from Noble Energy Inc. as the government broadens state control of domestic energy production. The government is in talks to acquire the natural gas- powered Machala plant on the nation’s Pacific coast, said Galo Borja, minister of strategic industries coordination. He declined to discuss financial terms of a possible transaction. “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 has tightened 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. (Bloomberg)
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