Ecuador wants to produce more oil in its Amazon region to balance its books

RIO DE JANEIRO, BRAZIL – Ecuador was one of the smaller members of the Organization of the Petroleum Exporting Countries but decided to leave the association two years ago. He did not want to comply with agreed oil production cuts when the Treasury needed more revenue.

The urgency of new resources remains and the new president Guillermo Lasso arrived at the Palais Carondelet with the intention of doubling the current production. On the one hand, this strategy is greeted with skepticism in the professional oil world, because it requires billions of dollars of investment; on the other hand, he sounded the alarm. . .

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The Rio Times Staff is a network of independent journalists and bloggers from across Latin America who keep us up to date with news in their region. This information is collected, verified and processed in our editorial staff.


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