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Ecuador Political News

In 2021, everything will depend on investment in the oil sector

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The investment will be the fundamental pillar for the Ecuadorian oil sector in 2021 with a view to finding new fields, increasing production in operating fields and reversing the bad indicators in crude refining.

In this way, the country can leave behind the terrible results of this year, where COVID-19, international oil geopolitics and the domestic scenario impacted the hydrocarbon activity. 

According to data from the Central Bank of Ecuador, from January to October 2020, the national production of crude oil fell 10 percent compared to the same period in 2019. While exports decreased by 7 percent.

To read the full story on Vistazo, click here.

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