Data published by the Latin American and Caribbean Energy Organization (OLACDE) shows that by 2025, the Latin America and Caribbean region will contribute approximately 11 % of the world’s oil supply and nearly 6 % of its natural gas supply.

The report “Panorama 2025: Oil and Natural Gas Production and Foreign Trade in Latin America and the Caribbean (LAC)” revealed that “oil production in the region increased by 20 %” last year. Regarding the hydrocarbon sector, the report noted a boost from Guyana’s growth and Brazil’s continued leadership.

According to the document, seven countries account for 87 % of oil production in Latin America: Brazil, Mexico, Venezuela, Argentina, Colombia, Guyana, and Ecuador, each with a share exceeding 5 % of the regional total.

The list is distributed as follows: Brazil as the main regional producer, “reaching 3.77 million barrels per day (bpd); followed by Mexico, which registers 1.67 million bpd; leaving Venezuela in third place, with 1.08 million bpd.

Guyana’s oil production stood at 900,000 bpd, Argentina’s at 878,800 bpd, Colombia’s at 746,000 bpd, while Ecuador’s remained at 439,717 barrels of oil.”

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Source: actualidad.rt

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La entrada Latin American countries that lead global oil production apareció primero en Bitfinance.

Ecuador is currently suffering the consequences of the gasoline price increase that went into effect on Tuesday, May 12, leading to fuel shortages and long lines at service stations.

The shortage of premium gasoline and diesel is critic, a situation that has overwhelmed service stations in Quito, the capital, as well as in the country’s main cities.

Sources indicate that “the emergency originated after critical failures at the Esmeraldas Refinery, the nation’s most important processing plant, which has paralyzed the regular distribution of fuels.”

As has happened in other countries, the situation is forcing citizens to wait in lines for hours before being able to fill up their vehicles, “while Petroecuador authorities try to manage the accumulated deficit in national distribution.”

The increase in the price of extra gasoline, effective Tuesday, May 12, indicates that “the price per gallon will rise from the current $3 to an estimated range between $3.15 and $3.17.” Public outcry was swift, “as it occurs amidst the worst supply crisis of the last decade.”

According to energy sector experts, the full normalization of service could be delayed until June 9 due to the complex repairs needed at the Esmeraldas Refinery, in addition to “the logistics required to cover the inventory deficit.”

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Source: radiomundial

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La entrada Fuel shortage hits Ecuador consumers apareció primero en Bitfinance.

The Ecuadorian Presidency issued a press release announcing the reduction of tariffs on Colombian products to 75% starting June 1.

The decision was made despite differences between President Daniel Noboa and his Colombian counterpart, Gustavo Petro, and reflects the Ecuadorian government’s “openness to advancing bilateral cooperation mechanisms on security matters to promote greater coordination between both countries and strengthen development in the border region.”

Tensions between the two nations escalated due to differences over drug trafficking and spilled over into the trade sector last January when Noboa announced that a 30 % security tax on Colombian imports would take effect on February 1st.

Colombia responded with a similar measure, further increasing tensions. Noboa’s announcement has prompted renewed talks aimed at restoring calm between the two governments.

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Source: bancaynegocios

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Ecuador will receive a disbursement from the International Monetary Fund, for $394 million, as part of the program in effect since 2024, which totals $5 billion.

The new aid package was approved by the multilateral organization after the corresponding review, which revealed internal progress such as the rationalization of tax expenditures through tax exemptions or waivers; in addition, the efficiency of public spending has improved.

The assessments were conducted between February and March, according to a statement by IMF Deputy Managing Director Nigel Clarke, who confirmed that the approved disbursement, the first of 2026, is part of “a 48-month program under the IMF’s Extended Fund Facility (EFF), signed during the current administration of Ecuadorian President Daniel Noboa, and in effect until 2028.”

Ecuador will have to undergo four future reviews before the end of the program to access an additional $1.276 billion.

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Source: spanish.xinhuanet

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La entrada IMF approves $394 million disbursement for Ecuador apareció primero en Bitfinance.

Ecuador will be evaluated this month, for the fifth time, by the International Monetary Fund (IMF) technical team to determine the allocation of a new disbursement of $400 million, according to the Extended Fund Facility schedule.

If the progress is validated by the international organization, the South American country could access a new tranche of financing in 2026.

The IMF evaluation is part of the Extended Fund Facility (EFF), “a 48-month program approved in May 2024 and expanded in July 2025.” Furthermore, the agreement includes financing equivalent to SDR 3.75 billion – approximately US$5 billion – and aims to strengthen fiscal and debt sustainability, protect vulnerable groups, rebuild liquidity buffers, safeguard macroeconomic and financial stability, and advance structural reforms geared towards sustainable and inclusive growth.

During the fourth review, the IMF highlighted that the Latin American nation’s economy “showed signs of recovery, with projected real GDP growth of 3.4 % in 2025, low average inflation, and current account surpluses, which contributed to strengthening international reserves.”

However, it made clear that the economy still faces a scenario characterized by volatility in oil prices and international financial markets.

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Source: infobae

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La entrada Ecuador under IMF evaluation for possible loan apareció primero en Bitfinance.

Ecuador’s oil production could increase by 2,411 barrels per day between the end of April and the beginning of May of this year, according to the government, after reaching 459,743.34 barrels per day last Sunday.

Of this figure, 363,789.35 barrels came from Petroecuador and 95,953.99 barrels from private companies, according to data from the Hydrocarbons Regulation and Control Agency.

Ecuadorian authorities anticipate “increased exploration activity, well testing, and the stabilization of production at wells such as Yuralpa-36 HST1, Shushufindi-223, and Tigüino-26.”

Specifically, the Yuralpa well, located in the Amazonian province of Napo and operated by Petroecuador, “will contribute approximately 678 barrels per day, while Shushufindi-223, in the Amazonian province of Sucumbíos, will add around 1,010 barrels per day. Meanwhile, Tigüino-26, located in Orellana and operated by the private company Petrobell, will contribute 723 barrels per day.”

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Source: bancaynegocios

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La entrada Ecuador’s government expects to increase oil production by 2,411 barrels per day apareció primero en Bitfinance.

During 2025, remittances from Venezuela to countries such as Colombia, Peru, and Ecuador have increased, particularly in USDT, according to a recent statement by Richard Ujueta, president of the Venezuelan Chamber of Electronic Commerce (Cavecom-e).

The executive indicated that, according to official figures, there has been an increase in cryptocurrency remittances sent to these countries. He also highlighted that “90 % of remittances entering Venezuela are in USDT.”

Ujueta specified that, with respect to the Binance exchange, there are “more than 5,000,000 users; 20% of the population is currently using cryptocurrencies.”

The executive maintained that cryptocurrencies are an alternative for citizens in the country, highlighting the increase in the adoption of digital assets, adding that “e-commerce has been an important lifeline for the Venezuelan economy.”

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Source: ultimasnoticias

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La entrada Remittances in cryptocurrencies from Venezuela to other countries increase apareció primero en Bitfinance.

Ecuador implemented, starting this Monday, September 1, a new immigration control and security requirement for temporary visa applications for Venezuelans and citizens of 39 other countries.

This was announced by the country’s Ministry of Foreign Affairs and Human Mobility on Saturday, August 30, clarifying that the “Temporary Visitor Visa for Transition” will be required for citizens of 40 countries, including Venezuela, which currently requires a visa to enter Ecuadorian territory.

This decision is implemented in accordance with the “Organic Law of National Solidarity, which amended Article 66 of the Organic Law on Human Mobility and seeks to strengthen state security and migration control,” according to the official statement.

In this regard, in addition to Venezuela, the countries included are Afghanistan, Angola, Bangladesh, Cameroon, Cuba, Egypt, Eritrea, Ethiopia, the Philippines, Gambia, Ghana, Guinea, Kenya, India, Iraq, Iran, Libya, Nigeria, Pakistan, Nepal, the Democratic Republic of the Congo, North Korea, Senegal, Syria, Sri Lanka, Somalia, Vietnam, Yemen, Haiti, Mali, Ivory Coast, Myanmar, Uzbekistan, Tajikistan, Albania, Chad, Guinea-Bissau, Kyrgyzstan, Mauritania, Sierra Leone, Sudan, South Sudan, and China.

Citizens of these countries must submit their application outside Ecuadorian territory through the Ministry of Foreign Affairs’ digital portal: serviciosdigitales.cancilleria.gob.ec. The application fee is $50; the Temporary Visitor Visa for Transients will cost $30.

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Source: laverdad

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La entrada Ecuador to require temporary Visas for Venezuelans and citizens of 39 other countries apareció primero en Bitfinance.

In Latin America, Ecuador maintains the lowest inflation rate in the region. During the month of July, annual inflation stood at 0.72 %, which, according to the National Institute of Statistics and Censuses (INEC), represents a slowdown compared to 1.57 % in the same month in 2024.

According to the local agency, this “represents an annual decrease of 1.32 percentage points.” However, it is important to clarify that “when inflation falls, it is usually interpreted as a sign of stability; the drastic drop in price levels over the last year reflects weak demand and possible economic stagnation.”

Domestically, the Consumer Price Index (CPI) grew only 0.11 percentage points monthly between June and July; a sign of a lack of dynamism in economic activity, reinforced by a drastic drop in prices in “key sectors.”

Service prices continue to rise, as do products in the Basic Family Basket, which comprises 75 items nationwide. In this regard, a comparison is made between the price of the basic basket in July, which was $813.82, and the monthly family salary for the same period, which was $877.33, “which means there is a surplus of $63.51.”

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La entrada Ecuador maintains the lowest inflation rate in Latin America apareció primero en Bitfinance.

In Ecuador, cocoa producers are considered the new rich of the agricultural sector given the shift in their position in the global market, displacing leaders such as Ghana and the Ivory Coast, where crops are affected by pests and drought.

Faced with these unfortunate circumstances on the other side of the map, Ecuador is positioning itself in the cocoa market, with a positive rise in international prices.

Currently, a cocoa producer can receive $350 per quintal, or 100 kilos of cocoa, compared to previous years when they could receive as little as $100. It is known that the price of the “new gold” will begin to rise in 2023.

Last year, “the sector generated approximately $3.6 billion, $600 million more than the mining sector, in a country whose economy depends largely on the exploitation of natural resources.”

On the other hand, according to reports, between September and March, “the value of cocoa exports, at $2.9 billion, was even $480 million higher than that of the strong banana sector, according to the Central Bank. It is the first time in six decades that it has surpassed it.”

Added to this is the price of a ton of cocoa on the international stock exchange, which is now at $9,000. But this bonanza isn’t always without danger, as producers have faced extortion from criminal gangs operating in the region, demanding money in exchange for letting them work.

M.Pino

Source: swissinfo

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La entrada Ecuadorian cocoa is positioned above Ghana and the Ivory Coast in the market apareció primero en Bitfinance.