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Ecuador sees 8% crude output rebound; eyes $14 bln in investment

Date: Aug 20, 2021

Ecuador expects crude production to rise 8% by the end of the year to around 530,000 barrels per day (bpd), Energy Minister Juan Carlos Bermeo said in an interview, an increase that could help the cash-strapped Andean nation recover from a recession.

In the long-term, the country is seeking to double output to around 1 million bpd, which would require about $14 billion in investment, Bermeo told Reuters on Wednesday. The minister is a civil engineer who was named to the post in June by recently-elected conservative President Guillermo Lasso.

To read the full story on Hellenic Shipping News, click here.