Eduardo Xavier Miranda, a career Petroecuador official, was appointed this Monday, December 11, by the board of directors of this state-owned oil company as the new deputy director, replacing Reinaldo Armijos who held that position.

This was announced by the Coordination Society of Public Enterprises (EMCO) in a press release. This after a virtual board meeting was held in which EMCO President Jorge Benavides participated; director of the National Secretariat for Planning and Development (Senplades) Sariha Moya and representatives of the Ministry of Energy.

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In the announcement of the appointment, it was announced that Miranda Patiño holds a Master of Business Administration (MBA) degree and a third-level degree in economics, in addition to a business career.

The now former manager Armijos applied as the last measure of his management the premature termination of Petroecuador’s insurance contract with the insurer La Unión. The case of signing that insurance is due to a series of requests in the hands of the Prosecutor’s Office. According to Armijos, an audit of the contract was carried out outside the judicial sphere and several problems were discovered.

Petroecuador’s assets will continue to be covered by La Unión for another 90 days, despite the termination notice

Armijos answered Teleamazonas this December 11 morning, that during his administration he managed to increase oil production to 411,000 equivalent barrels, that is, oil and gas production.

He also assured that some operations in the ITT area will not resume from December, in accordance with the results of the public consultation. He also assured that the Campo Amistad process was declared null and void and that the only company that was still in the competition appealed against that decision.