Energy Intelligence’s World Energy Opinion
22 February 2018
Ecuadorians voted for a two-term presidential limit in a referendum on Feb. 4, consolidating President Lenin Moreno’s hold on power by making his predecessor and former ally Rafael Correa ineligible to run for office again. This should allow Moreno political space to adopt more business-friendly policies, as he has been doing since becoming president in May 2017. This in turn improves the outlook for solid growth in Ecuador’s oil production in the years ahead, but also raises the prospect of the country leaving Opec — again.