Another Corruption Scandal Engulfs Ecuador’s Oil Industry

The trials and tribulations for Ecuador’s deeply embattled petroleum industry continue. If crumbling infrastructure, refinery outages and pipeline ruptures were not enough, the Andean country’s state-controlled PetroEcuador finds itself embroiled in another scandal which could derail progress with reforming Ecuador’s troubled energy sector. The national oil company which owns and operates Ecuador’s refineries and related infrastructure is due to be merged with state-controlled PetroAmazonas which focuses on upstream operations.…