Uncertainty weighs on the Andean energy sector
Collapsing governments and crackdown on public dissent showcase growing instability
Political risk is in the ascendancy across the Andean region of Latin America after a year marked by protests, violent repression and musical chairs at the top of government. Peru and Ecuador have been hit particularly hard by the recent turmoil. In May, Ecuadorian president Guillermo Lasso triggered a new general election to avoid impeachment, while Peruvian President Pedro Castillo was ousted from power in December after attempting a coup d’etat against his own government. Widespread demonstrations and violence have rocked both countries, but Ecuador’s oil and gas sector has been especially affected. “Protests [have] resulted in an 11% fall in production by NOC Petroecuador so far this y
Also in this section
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing
26 April 2024
Slowing demand growth and capacity expansions will squeeze refiners in coming years
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields