Back

Economy & Business - October 2020

ECUADOR: State oil apparatus braces for austerity

The crash in international oil prices caused by the coronavirus (Covid-19) pandemic provided a glimpse into a not-too-distant future in which Ecuador’s prize export can no longer generate the income it once did. This, along with resurgent warnings of ‘peak oil’, has prompted the cash-strapped administration led by President Lenín Moreno to accelerate plans to reform the state oil apparatus, including a merger between the two state-owned oil companies, the tendering of refineries, and the liberalisation of fuel imports.

End of preview - This article contains approximately 585 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.