The claim was made on the basis of a 2006 Ecuadorian law (Law 42) by which the government has a right to 99% of the oil revenues above a certain "reference price", mostly arbitrary.
They cannot actually set a referenceprice for globally traded crude oil, and what ability they once had to balance the market has declined as traders have become more skeptical that the Kingdom is ready and willing to ramp up its production as much as it says it can.
The only hub in that neck of the woods is Baumgarten (Austria), a pretty illiquid market, and not one that acts as a serious pricereference point for CEE or South East European states.
Opponents of the reform, known as "chained CPI" in reference to the Consumer Price Index it involves, argue it hurts senior citizens and others who most need their benefits.