Ecuadorean election prompts oil and gas push

Both candidates head into the run-off with a near identical voting share and big plans to raise investment in the country’s hydrocarbon sector

Ecuador’s incumbent government is going into the presidential run-off poll in April with a slender lead, having announced in January a big boost to hydrocarbon spending. The administration pledged to invest $44b through to 2029, partly to revive flagging crude production as well as to build a brand-new oil refinery. Many pollsters had predicted a wider margin for President Daniel Noboa in the first round, but the result showcased split public opinion. Less than 1% of the ballot separated the president from opposition candidate Luisa Gonzalez, while indigenous left-wing candidate Leonidas Iza also picked up just over 5% of the vote. “We would anticipate no immediate change in the curren