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Ecuador could have to make a payment in favor of Chevron for USD 2,000 million, after losing an arbitration against it. The Proforma presented by President Daniel Noboa in the National Assembly warns of possible payment of USD 2,426 million in international arbitrations. The...

Petroecuador began drilling well 11 of a total of 15 scheduled on the Sacha 490 platform, located in the province of Orellana. The state company Petroecuador estimated a production of 700 barrels per day in the SCHAQ-605 well, located in the Sacha field, in the province of...

The Government of the United Arab Emirates is interested in investing in renewable energy and in the creation of a regional distribution hub in Ecuador. The Governments of Ecuador and the United Arab Emirates agreed to begin negotiations on a trade agreement, reported the...

The stagnation of the amount traded in the Ecuadorian stock market responds to a greater perception of risk in the country, which has led to investment restrictions. After a couple of years of good results, the stock market’s forecast for its performance for the last year...

In the end, it will be the state-owned Petroecuador that will invest in the Amistad Field, after the failed tender that was canceled in December 2023. Four wells are planned to be drilled. The state oil company Petroecuador will invest, at its own risk, some USD 100 million in...

The President of the Republic, Daniel Noboa, was in Santa Elena, where the Ministry of Energy presented the Solar Map, a photovoltaic renewable energy project. This February 23, the National Government presented the Solar Map, a study on Ecuador’s solar photovoltaic...

Just for the concession of the radio spectrum, the State expects to receive USD 410 million, according to the Proforma 2024 Justification. The State expects to receive USD 560 million in income in 2024 from the renegotiation of contracts with the mobile telephone companies, Claro...

Juan Carlos Vega, Minister of Economy, in an interview with Teleamazonas, said that the VAT will be raised to 15%, the maximum that the law allows Daniel Noboa. Vega confirmed that Noboa will use the prerogative conferred in the tax reform that he carried out, where it was...

In 2023, Ecuador’s non-oil and non-mining exports grew 3%. However, it was the lowest increase in the last seven years. Ecuador achieved a growth of 5% in the value of its non-oil exports and 3% in its non-oil and non-mining exports in 2023. The country’s non-oil...

After the lifting of sanctions on five banana exporters, both countries agreed to maintain a direct channel between health services. Following the lifting of sanctions on five banana companies by the Russian Government, authorities from the health services agencies of Ecuador and...