The tiny impoverished South American nation of Ecuador is battling to revive its flagging oil industry. The Andean country was floated as a solution for reduced U.S. oil supply because of President Joe Biden’s decision to ban Russian oil imports in wake of President Vladimir Putin’s decision to invade Ukraine. While oil majors such as Shell as well as refiners Valero and Marathon, during March 2022, were sourcing Ecuadorean petroleum the impoverished South American country is incapable of filling the supply gap left by the removal of…
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