Energy Advisor

Alberto Acosta Burneo, editor of Weekly Analysis in Guayaquil: “The government’s initial goal was to double crude oil output—public and private—to one million barrels per day (bpd) by the end of Lasso’s term. In March, the government toned down its oil output target. The new goal is to double Petroecuador’s oil and gas output to 800,000 bpd from 400,00 by 2025. This plan requires an investment of $12 billion, which would mostly come from the delegation of operations of Petroecuador fields to other companies. Again, the plan collided with various obstacles. The most recent was the 18-day violent Indigenous uprising. Conaie’s objectives included stopping the oil frontier’s expansion. As a means to stop the violence, the government agreed. This means that it would have to discard plans to tender the South Oriente for exploration. But there is also opposition from…”