Press Articles

That the oil sector is not politicized ( 2018-05-31 )

Petroleum being the most important product for the economy of the country, and given the results obtained by the current Minister of Hydrocarbons and the general manager of Petroecuador, I hope that both officials remain in their positions for a long time and that they are not allowed to these institutions are politicized or corrupted.

We must continue fighting against corruption.

Among other things, it has been possible to renegotiate important oil contracts, changes in the way of calculating the oil price and the maritime transport tariff, the premium paid for our oil was improved and 50 million barrels were released that can be negotiated in the spot market, which pays a better price than that of long-term contracts, etc., which represents several additional billions for the treasury.

I believe that the law needs to be reformed to give independence to the "petros" so that they act as autonomous companies, in which case through an executive decree the president of Ecuador will be able to bid for the construction and operation of the Manabí Refinery, where you can refine the approximate 250,000 barrels per day that will produce the ITT fields, a project that must be sold abroad.

We can not sit and wait for us to come knocking on the door to invest approximately 8,000 million dollars in such an important work.

It is my modest opinion, that the oil sector is not politicized or corrupted. (OR)

Miguel Macías Carmigniani, lawyer, Guayaquil

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