Guillermo Lasso, Ecuador’s president
Letter from South America: Outlier Ecuador offers alternative path
The country has been working to attract renewed upstream foreign investment since quitting Opec
Ecuador may remain one of the few right-wing governments left in South America by the end of 2022. Elections are looming in Colombia and Brazil, where leftist candidates lead in the polls, and the political landscape is changing significantly in the region—which will no doubt affect hydrocarbons policies. Already, the frontrunner for the Colombian presidency has called for an ‘anti-oil’ bloc to be created by aligned South American governments, an exercise akin to cutting off one’s nose to spite one’s face for commodity export-dependent economies. But all signs now point to the fact that Ecuador will forge a different path, at least in the near term. The surprise victory of Guillermo Lasso, a
Also in this section
8 December 2025
The Caribbean country’s role in the global oil market is significantly diminished, but disruptions caused by outright conflict would still have implications for US Gulf Coast refineries
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
