LatinNews Daily - 19 August 2022

In brief: Ecuador’s state oil company appoints new director

* The executive board at Ecuador’s state-owned oil company, Petroecuador, has appointed deputy hydrocarbons minister Hugo Aguiar Lozano as the company’s new CEO, following the resignation of Ítalo Cedeño on 2 August. Aguiar, who joined the hydrocarbons ministry in May this year, previously acted as the presidential delegate on the hydrocarbons tender committee from 2021-2022. A Petroecuador statement said that his “objectives include a sustained and profitable increase in production, the improvement of efficiency in institutional processes, and the promotion of transparency in all areas of business management.” His efforts to achieve President Guillermo Lasso’s objective of doubling oil production to 1m barrels per day by 2025 will be complicated by intense indigenous opposition to oil extraction in the Amazon, which was one of the sparks for the 18 days of indigenous-led protests that ground Ecuador to a halt in June.

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