Petroecuador President Dismissed from Office

The Board of Directors of Petroecuador removed president Guillermo Rosero from his post. Policy clashes with the energy minister was cited as the reason for the dismissal. Diego Cano, who represents Petroecuador employees on the company's board of directors, said a board delegate of Ecuador President Lucio Gutierrez had informed the board on Thursday that Rosero had been removed and "thanked him for his services."

"Since he had not complied with the current oil policy, he was removed from his post at the request of the president," Cano said. Cano said no vote had been formally held on the decision.

It is not immediately clear who will take over the state-owned oil company.

Rosero, a retired military officer, was named head of Petroecuador in January by Gutierrez but since then has clashed with Energy Minister Carlos Arboleda on several issues including labor contracts and how best to deal with the country's declining oil fields.