Petroecuador Names Ramon Correa as New General Manager

The board of directors of Ecuador’s state-owned oil company Petroecuador on Tuesday named Ramon Correa, an engineer, as general manager following recent management changes in the wake of a corruption investigation.

Correa replaces Maria Elisa Soledispa, who was appointed the interim head of Petroecuador following the resignation of former chief Hugo Aguiar, who stepped down after his home was searched by the attorney general’s office in a corruption probe.

Ecuador’s President Guillermo Lasso asked managers of public companies – including Petroecuador – to vacate their positions in January amid reports of possible corruption in some entities. 

While Petroecuador’s board confirmed Aguiar in his post on Feb. 2, he stood down a week later following the raid on his home.

Prosecutors also targeted Petroecuador’s offices in raids last year, after receiving information from U.S. authorities about a case involving a former company official. 

Ecuador’s former energy minister resigned amid a separate investigation into bribery accusations, which he denies.

Lasso himself faces impeachment hearings over accusations by opposition politicians of graft, including irregularities in a crude oil shipping contract, something the president strongly denies. 

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