LatinNews Daily - 25 September 2025

*Peru’s Mining and Energy Minister Jorge Montero has announced that the governments of Peru and Ecuador will sign a Memorandum of Understanding (MoU) to boost the oil sector. He was cited by Spanish newswire EFE as saying that “Ecuador has oil but it doesn’t have a refinery or pipeline where it is needed”. Speaking on the sidelines of Perumin 37, a major mining convention, he said “we are signing a MoU with Ecuador’s government because that country produces 400,000 barrels of oil per day while in Peru, this is just 40,000 bpd.” He also highlighted the presence of Saudi Arabia’s deputy minister of mineral resources management, Abdulrahman Al-Belushi, at the mining summit, revealing plans to sign four agreements in November, two with Saudi Arabia, one for mining, and the other for energy, as well as two agreements with the Gulf Cooperation Council (GCC), a regional, intergovernmental alliance comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

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