Ecuador Elections: Cartels, Assassination, Corruption And Fear Loom, Economy And Security Are Key Issues
Portfolio Pulse from Maureen Meehan
Ecuador is facing a surge in crime and political violence ahead of its presidential elections, with concerns about the future of democracy. The country, which is a major oil producer in South America, has seen its crude exports to the U.S. drop significantly. A referendum will also be held on whether to protect the Yasuní National Park, where the Ecuadorian state oil company and ITT Inc. (NYSE:ITT) have ongoing oil projects.
August 20, 2023 | 7:21 pm
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ITT Inc. has an ongoing oil project in Ecuador's Yasuní National Park, which is subject to a referendum on whether to protect the park from oil drilling. The outcome could impact ITT's operations in the region.
The referendum on whether to protect Yasuní National Park from oil drilling could directly impact ITT Inc.'s operations in the region. If the referendum results in a ban on oil drilling, ITT may have to halt its project, potentially leading to financial losses.
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