Letter from South America: The rise and fall of Ecuador’s oil industry
Uncertain whether political change would change Opec member’s energy fortunes
Ecuador, once regarded as an island of tranquillity in a troubled sea, has recently begun to resemble its neighbours in terms of instability. Sadly, the only thing that seems to remain predictable is the decline in oil production from the erstwhile Opec member. Current president Guillermo Lasso had been focused on increasing production and investment in the oil sector, but those policies are in question following his use of a constitutional rule known as ‘muerte cruzada’, through which he has dissolved Ecuador’s National Assembly to avoid potential impeachment. Lasso’s inability to finish his term may portend a more dramatic trend in Latin America in general. As electorates in the region are

Also in this section
23 May 2025
LNG projects need the certainty of long-term contracts, but Henry-Hub–linked deals put buyers at significant risk
22 May 2025
Industry says compliance is near-impossible and have called for more clarity to prevent cargoes being redirected
22 May 2025
The next energy crisis could come from the severing of the link between oil and gas prices, with potentially severe economic consequences
22 May 2025
With contract awards looming on the Kuwait-Saudi backed Dorra field, the long-stalled gas project appears finally to be gaining traction—despite Iranian objections