Daily coverage from across the country, written for the expat community
Results for “petroleum”Clear
The May 12 price adjustment is official — diesel crossed $3/gallon for the first time, stations in Quito and Guayaquil are running dry, and Ecuador is importing 65% of its fuel. The refinery FCC unit restarts May 15.
Juan Carlos Blum is now the fifth person to lead Ecuador's energy portfolio since November 2023. A former minister calls it 'a responsibility of the highest risk.' The blackouts, failed contracts, and investigations explain why.
Ecuador's free trade agreement with China turned two on May 1. Imports from China surged 30% to $7.8 billion while exports barely grew. The non-petroleum trade deficit ballooned from $335 million to $1.9 billion. Here's what the numbers actually show.
The Cangrejos project, ranked 13th among the world's largest undeveloped gold deposits, gets a 26-year exploitation contract. Chinese-backed Odin Mining will invest $1.6 billion and generate 1,168 jobs. The government expects $6 billion in total revenue.
Ecuador's riesgo país fell to 404 points on April 22, the lowest since 2015. GDP grew 3.7% in 2025, international reserves jumped 42%, and the IMF just disbursed another $394 million. Here's what the improving trajectory means for expats.
Ecuador has slapped 50% tariffs on Colombian imports, threatened to cut electricity sales, and hiked pipeline transit fees by 900%. With $2.8 billion in bilateral trade at risk, Colombian products are getting more expensive and de-escalation talks are just beginning.
The World Bank forecasts Ecuador's economy will grow just 2% in 2026, among the lowest rates in Latin America. A fiscal deficit of 3-4% of GDP, expiring security contributions, weakening oil receipts, and likely tax reform paint a challenging picture.
January 2026 crude production hit 466,400 bbl/d, down 1.8% year-over-year and 13% below a decade ago. Illegal pipeline taps surged from 36 in 2022 to 770 in 2024, costing $100 million annually. Ecuador needs 550,000 bbl/d just to cover basic fiscal needs.
Ecuador and the United States signed a bilateral trade agreement on March 18 granting tariff-free access for 53% of Ecuador's non-oil exports, worth $2.786 billion. The deal covers 1,673 tariff subheadings including bananas, shrimp, cocoa, coffee, and flowers.
The United States and Ecuador formally signed their Agreement on Reciprocal Trade on March 13, 2026, cutting tariffs on 53% of non-oil exports worth $2.8 billion. Key sectors including bananas, shrimp, cocoa, coffee, and flowers get preferential access, while Ecuador eliminates its price band system on U.S. agricultural imports.
The United States and Ecuador have concluded negotiations on a historic Agreement on Reciprocal Trade (ART) that eliminates the 15% surcharge on roughly half of Ecuador's non-petroleum exports — worth $3.2 billion annually. The deal shields Ecuadorian flowers, bananas, cacao, and seafood from the new 10% global US tariff.
Ecuador's Federation of Exporters (Fedexpor) projects 6-7% export growth for 2026, a significant slowdown from the 18% surge in 2025. Headwinds include US tariff uncertainty, the Colombia trade dispute, and falling cacao prices — but the new US trade deal and flower sector expansion offer upside.
