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LatinNews Daily - 24 January 2025

In brief: Hydrocarbon investment plan unveiled in Ecuador

*Ecuador’s energy and mining minister, Inés Manzano, has unveiled the government’s investment plan for the hydrocarbon sector for 2025-2029, which aims for US$41.88bn in investments over this period to boost production of oil and natural gas and improve energy infrastructure. Goals include boosting oil production by around 336,670 barrels per day (bpd) through increased development of offshore sites and new projects within existing oilfields; improving pipeline infrastructure to increase capacity by 75,000 bpd; increasing the use of clean technology; and generating employment. “The message is clear: the country is ready to take a gigantic leap in its hydrocarbon development, to strengthen our energy wealth, attract new investment, and guarantee the sustainable development of the sector,” Manzano said. Representatives from state oil company Petroecuador and the private pipeline company Oleoducto de Crudos Pesados (OCP) announced expansion plans at the same event.

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