LatinNews Daily - 08 January 2026

*Ecuador’s energy and environment ministry has announced the extension of an oil production contract with Chinese firm PetroOriental until 2040. As part of this agreement, PetroOriental committed to investing US$36m in new exploration activities, increasing production, and social programmes and compensation actions in the Ecuadorean Amazon. The contract relates to the Block 14 concession in Orellana province. According to the government, the site is expected to produce an accumulated 8.4m barrels of oil by 2040, with PetroOriental committing to drilling five new wells. Energy and Environment Minister Inés Manzano said that the extension of the contract “enables long-term investments, maximises the recovery of reserves, and ensures operational stability in the oilfield”.

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