Ecuador’s government is planning to merge state-run oil company Petroecuador with its upstream counterpart Petroamazonas and prepare the resulting entity for a partial stock market flotation.
The plans were outlined by Economy Minister Richard Martinez, following a meeting attended by President Lenin Moreno and the bosses of several state-run companies.
“We want to make stock market investments available to the general public, and the idea is that all these state companies have citizens as shareholders,” Martinez was quoted as saying in a tweet posted by Moreno’s office.
