The new manager will replace Pablo Luna, who served in the position since June 2021.
The public company Petroecuador appointed Ítalo Cedeño as the new general manager, on December 28, a source from the entity confirmed.
Cedeño will be officially inaugurated in the coming days by the Board of the state oil company, replacing Pablo Luna in this way, who held the position since June 28.
The experience of the new manager in the hydrocarbon sector is broad, in the public and private sectors. He was executive president of the Chinese company Andes Petroleum, between 2003 and 2013; international director of acquisitions of the American firm Conoco Phillips, between 1988 and 1993; and served as Vice President of Petroecuador, between 1980 and 1988. He was also president of the International Society of Petroleum Engineers.
The provision that ordered the selection of Petroecuador managers with the advice of a specialized firm was eliminated
Cedeño was part of the shortlist of candidates to occupy the management of Petroecuador, which was presented by the former Minister of Energy, René Ortiz, in January 2021, to the Empresa Coordinadora de Empresas Públicas (EMCO).
His appointment came six days after the President Guillermo Lasso issued Executive Decree 299, on December 22, by means of which he modified the oil policy of Executive Decree 95 and eliminated the provision that the process of selecting profiles for the executive positions of Petroecuador be done with a specialized and independent firm. (I)
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