LatinNews Daily - 14 March 2022

In brief: Ecuador’s Petroecuador seeks investment

* Ecuador’s state-owned oil company, Petroecuador, has announced that it is seeking US$12bn in investments to fund its planned doubling of oil production by 2026. Petroecuador’s CEO, Ítalo Cedeño, said that oil production, which is currently at around 400,000 barrels per day (bpd), is expected to reach 495,000 bpd by the end of 2022, but that some 45bn barrels of oil equivalent remain in the ground. Cedeño said that the company is seeking investments in eight projects relating to exploration and production, refining, and transport, in order to exploit those reserves.

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