Ecuador

Energy Markets

Ecuador investigating people who allegedly hid energy supply information

Ecuador will examine more than 20 individuals for apparently purposefully concealing details about energy supply, the government stated on Wednesday as it grapples with a power crisis. A drought caused by the El Nino climate phenomenon has affected production at hydro-electric dams, which are Ecuador's. main source of electricity, leading to planned power cuts and. energy imports from surrounding Colombia. President Daniel Noboa declared an energy emergency on. Tuesday and named an interim energy minister. Previous minister Andrea Arrobo and other officials presumably. concealed information, Noboa's workplace said in a declaration on. Wednesday, including historically low reservoir levels. The country's...

Energy Markets

Fossil Fuels

Oil & Gas Equipment

Why did Ecuador raid Mexico's Quito embassy?

Mexico has abruptly suspended its bilateral relations with Ecuador due to an escalating dispute. This comes after Ecuadorian police broke into Mexico's Quito Embassy and arrested a former Vice President on corruption charges. Why did Ecuador enter Mexico's Embassy? The heavily armed police, wearing balaclavas, broke into the Mexican embassy in Mexico late Friday night, to arrest Jorge Glas. Ecuador's former vice president and leftist, he is wanted for graft. Glas, who has lived in the embassy in Mexico since December after seeking asylum in this North American country only on Friday, is a victim of a gang-related crime. Ecuador...

Fossil Fuels

PetroChina International promotes crude trading officer to head of Americas

PetroChina International, trading automobile of state energy giant PetroChina has appointed its international petroleum group leader as the new head of its Americas operation, senior trade sources with understanding of the matter said. Liu Qiang will begin his brand-new role, based in Houston, later on this month and will head a 100-strong group, one of the PetroChina's largest international trading operations that turned around almost 100 million metric tons of oil, gas, chemicals and power yearly. Liu validated his relocate to . The Americas operation oversees the Chinese oil major's. petroleum productions in Brazil, Ecuador, Venezuela and Canada. PetroChina, the...

Renewable Energy

Apical sets sights on more sustainable air travel fuel in SE Asia, Europe

Apical Group is considering purchasing a couple of sustainable air travel fuel ( SAF) projects in southeast Asia and Europe as demand for lower carbon fuels increases towards 2030, a senior business executive said. These might come on the back of recent financial investment in a 1.2 billion euros ($ 1.31 billion) joint venture with Spain's Cepsa to construct southern Europe's largest biofuels plant. This will start running in 2026 and aims to produce 500,000 metric tons annually (tpy) of sustainable diesel and SAF. Hopefully, we can conclude a refinery plan in the next one or two years, Apical's Executive...

Natural Gas

Former Vitol oil trader convicted of Ecuador, Mexico corruption charges

A previous oil trader at Vitol, among the world's largest energy trading business, was founded guilty on Friday of corruption charges stemming from more than $1 million in allurements he paid to officials in Ecuador and Mexico to win organization. A federal jury in Brooklyn found Javier Aguilar, 50, guilty of 3 counts of foreign bribery, foreign bribery conspiracy, and cash laundering conspiracy. Federal prosecutors in Brooklyn said Aguilar sent kickback cash from his Geneva-based employer to the authorities through a. series of intermediaries and shell companies in infraction of the. Foreign Corrupt Practices Act (FCPA), a U.S. law that...

Environment

Environment

Debt-for-nature swaps could give $100 billion increase to environment fight, says report

Debtfornature swaps, where poorer countries have financial obligation written off in return for securing communities such as barrier reefs or rainforests, could offer $100 billion for the fight versus climate change, a new report has actually calculated. The UK-based, non-profit International Institute for Environment and Development (IIED) based the quote on the possibility of financial obligation swaps in a number of the 49 less established nations viewed as most at threat of debt crises. Belize, Ecuador, Barbados, Gabon and Cabo Verde have all done such swaps recently and Laura Kelly, the director of IIED's sustainable marketing researches group, said many...

Environment

Chocolate rates to keep rising as West Africa's cocoa crisis deepens

Surveying the removed landscape of her farm dotted with pools of cyanidetainted, tea coloured waste water left by illegal gold miners is enough to make Janet Gyamfi break down. Only last year, the 27-hectare plot in western Ghana was covered with almost 6,000 cocoa trees. Today, less than a dozen remain. This farm was my only methods of survival, the 52-year-old divorcee informed , tears streaming down her cheeks. I. prepared to pass it on to my children. Long the world's indisputable cocoa powerhouses accounting for. over 60% of international supply, Ghana and its West African neighbour. Ivory Coast are...