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LatinNews Daily - 20 November 2020
In brief: Ecuador plans stock market listing for state-owned oil company
* Néstor Luna, the lead official in the merger process between Ecuador’s two state-owned oil companies, Petroecuador and Petroamazonas, has reported that the merged company (which will keep the Petroecuador name) will aim to list shares on the stock market once the merger process is complete. The merged company is scheduled to begin operations on 1 January 2021, although Luna suggested the listing will not be immediate, but is instead a “medium term” objective. He emphasised the need to attract more foreign investment to a sector that is expected to play a crucial role in Ecuador’s recovery from the economic crisis caused by the coronavirus (Covid-19) pandemic.
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