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Ecuador’s oil production falls 51% due to national strike

In 12 days of protests, Petroecuador and foreign oil companies stopped extracting a cumulative 679,000 barrels of oil, which means losses of USD 61 million. Due to the national strike, Ecuador has stopped extracting 51% of the oil in its oil fields. The drop in oil production has...
Posted On 24 Jun 2022
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Contecon will extend the free storage time by 40%, in support of the export sector affected by strikes

The export sector will receive support to counteract the delicate situation that in more than ten days of national strike has represented losses of more than $40 million. This aid comes from Contecon Guayaquil SA (CGSA), concessionaire of the Libertador Simón Bolívar port, which...
Posted On 23 Jun 2022
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BanEcuador will forgive debts of up to USD 3,000 to 9% of its clients

Banecuador will forgive overdue loans for some 27,000 clients. Most of them are located on the Coast, according to the manager in charge of the institution, Fernando Chiang. As of July 27, 2022, BanEcuador will begin the process of canceling debts of up to USD 3,000 that are...
Posted On 22 Jun 2022
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Ecuador, among the countries that suffer the most from the war in Ukraine

Exports from Ecuador, Paraguay and Jamaica feel the impact of the Russian invasion of Ukraine, which translates into lower economic growth and more poverty. More than 100 days have passed since the Russian invasion of Ukraine began, and Ecuador is among the three Latin American...
Posted On 20 Jun 2022
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The EU launches an initiative in Ecuador to encourage a sustainable economy

The European Union (EU) launched this Thursday, June 16, 2022 in Ecuador its Team Europe initiative, a new cooperation framework that, with a contribution of 15.5 million euros, seeks to generate more than 500 million euros in investments in the sector public and private for...
Posted On 17 Jun 2022
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Ecuador’s mining exports could grow 23% in 2022

The Minister of Energy and Mines, Xavier Vera Grunauer, announced that the government has signed an agreement of understanding with the Canadian company Barrick Gold, to undertake new mining exploration projects. In 2022, mining exports will reach USD 2.6 billion , according to...
Posted On 16 Jun 2022
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La Fabril and the Ministry of Agriculture and Livestock plan to produce a ‘popular oil’

A new vegetable oil would reach the market with the denomination popular oil through a public-private alliance. This was revealed by the Minister of Agriculture and Livestock (MAG), Bernardo Manzano , who assured that he held talks with Santiago Terán, president of La Fabril, to...
Posted On 14 Jun 2022
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USD 3.2 million costs the productive sector a day of strike in the Sierra

The Ecuadorian Business Committee (CEE) asks that the protests take place in peace and asks the authorities to sanction those who carry out acts of vandalism. A day of demonstration in the Sierra region of Ecuador costs the productive sector about USD 3.2 million , says Felipe...
Posted On 14 Jun 2022
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The percentage of Ecuadorians who buy in retail chains grows

The penetration of mass consumption chains increased due to an aggressive expansion strategy, because there is still an unattended market. The mass consumption business had a good year in 2021, with a growth in the value of the shopping basket of Ecuadorians of 10% compared to...
Posted On 13 Jun 2022
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Agriculture began auditing 25 banana exporters

Minister Bernardo Manzano pointed out that the audit will be carried out on the 245 companies that export bananas, as well as the 15 export associations. With the notification to 25 banana exporters, the Ministry of Agriculture and Livestock (MAG) began the audit process...
Posted On 09 Jun 2022
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