Latinnews Daily - 20 September 2017

Ecuador: In an interview with international media, Ecuador’s hydrocarbons minister, Carlos Pérez García, said that the Ecuadorean government has a keen interest in Repsol, the Spanish energy company, continuing to invest in the country, and that a preliminary agreement had been reached to renegotiate the level of royalties paid by the firm. Pérez explained that Repsol continues to produce oil in Ecuador, in the so-called ‘block 16’, located in Ecuador’s Amazon basin, but that its investments are quite small because there are very few reserves left in these fields. Pérez added that Ecuador could perhaps offer Repsol the opportunity to exploit a new field very close to the one that it currently operates, a concession which has gone out to tender, but for which no bids were received.

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