AGP Executive Report

Industrial Power: Ecuador has ordered three weekly outage days—72 hours total—for large industrial users from Oct. 12 as drought drains hydroelectric reserves. Authorities have already ordered high-energy businesses to disconnect, raising concerns over production and shrimp cold chains. Oil & Gas: Gran Tierra shareholders approved the $1.33 billion sale of its Ecuadorian and Colombian businesses to Maurel & Prom; the company expects about $315 million in net cash proceeds. Mining: Lundin Gold reported record quarterly production at Fruta del Norte, with 153,736 ounces in Q3. Aquaculture: Ecuadorian shrimp processors are facing higher costs, while Omarsa is expanding its reach through the purchase of a French refrigerated-products division. Regional Logistics: Panama’s canal kept operating normally after a major earthquake, with inspections causing no disruption to ship traffic.

Industrial Power: Ecuador will impose 72 hours of weekly outages on large industrial users from Oct. 12 as drought cuts hydropower supplies. Colombia has also suspended electricity exports to Ecuador, adding pressure on manufacturers and shrimp producers that rely on steady power and cold chains. Oil and Gas: Gran Tierra Energy shareholders approved the US$1.33 billion sale of its Ecuadorian and Colombian businesses to Maurel & Prom. Gran Tierra expects about US$315 million in net cash proceeds. Mining: Lundin Gold reported record quarterly production of 153,736 ounces at Ecuador’s Fruta del Norte mine, its strongest quarter to date. Shrimp Exports: Ecuadorian processors are facing higher costs as the industry seeks new markets; a proposed US tariff increase could add another hurdle for the country’s major export sector.

Oil and Gas: Gran Tierra shareholders approved the US$1.33 billion sale of its Ecuadorian and Colombian businesses to Maurel & Prom. The company expects about US$315 million in net cash proceeds. Mining: Lundin Gold’s Fruta del Norte mine posted record third-quarter production of 153,736 ounces, keeping it on track to meet its 2026 target. Shrimp Exports: New weekly price benchmarks for Ecuadorian vannamei shrimp bound for Europe aim to improve market visibility; Spain, France and Italy bought about US$1.26 billion of the product in 2025. Power and Climate: Colombia has suspended electricity exports to Ecuador as the World Bank warns the country is highly exposed to El Niño. Flooding has already caused agricultural losses in three provinces. Regional Logistics: A 7.7-magnitude earthquake struck Panama, but shipping through the Panama Canal remained uninterrupted.

Mining: Lundin Gold’s Fruta del Norte mine set a quarterly record, producing 153,736 ounces of gold in Q3 as stronger grades and mill throughput lifted output. Shrimp: Ecuador’s fast-growing industry is seeking new export markets, while processors face rising costs; ProEcuador is working to connect exporters with buyers. Textiles: Trützschler expanded its service network in Ecuador, Peru and Colombia, giving mills more local technical support to improve production and quality. Energy: Colombia halted electricity transfers to Ecuador as El Niño threatens supply. The World Bank warns that floods, drought and power disruptions put industry, mining and agriculture at risk. Exports: Emirates SkyCargo reports Ecuador cargo volumes up 14%, with six weekly Quito flights and flowers accounting for more than 90% of its Ecuador shipments.

Gold Mining: Lundin Gold’s Fruta del Norte mine produced a record 153,736 ounces in the third quarter, up from 122,086 ounces a year earlier, as stronger grades and mill throughput lifted output. Shrimp Exports: Ecuador’s fast-growing shrimp sector is seeking new buyers as production expands; processors also face rising costs and a proposed U.S. tariff increase. Air Cargo: Emirates SkyCargo reports Ecuadorian export volumes up 14% year on year, with six weekly Quito flights and capacity for about 600 tonnes—mostly flowers. Textile Manufacturing: Trützschler has expanded local card-clothing services in Ecuador, Peru and Colombia to give mills faster technical support. Power and Agriculture: Colombia has suspended electricity exports to Ecuador over supply concerns, while flooding in Esmeraldas and other provinces has caused agricultural losses.

Seafood: Ecuadorian shrimp processors at Spain’s Conxemar trade show say rising costs are squeezing the sector. Omarsa has expanded by acquiring Nueva Pescanova’s French refrigerated-products division, while a U.S. senator is pushing higher tariffs on Ecuadorian shrimp, adding trade pressure. Power and Industry: Colombia has halted electricity exports to Ecuador as El Niño raises shortage risks. Ecuadorian large firms also face power cuts of up to 72 hours as hydro levels fall, threatening production. Agriculture: Flood emergencies in Esmeraldas and two other provinces have brought mounting farm losses, with El Niño adding risks to food supply chains. Trade and Resources: Ecuador is in talks with India on crude oil, copper and critical-mineral sales, seeking new export markets.

Power Supply: Colombia has formally suspended electricity exports to Ecuador over El Niño-related shortage risks; cross-border flows had already stopped in September. Ecuador’s business power cuts have also been extended, although recent rains boosted generation at Coca Codo Sinclair and raised Mazar reservoir levels. Agriculture and Fisheries: Flooding has prompted an emergency in Esmeraldas as farm losses spread across three provinces. Along the coast, unusually warm waters are pushing fish offshore and leaving Ecuadorian fishing boats with smaller catches. Oil and Minerals: Ecuador is in talks with India to sell crude, copper and other critical minerals, and plans to launch a new oil auction by year-end. Shrimp: A U.S. senator is pushing higher tariffs on Ecuadorian shrimp, while local producer Omarsa has acquired Nueva Pescanova’s French refrigerated-products division.

Fisheries: El Niño-driven ocean warming is pushing tuna and anchovies away from Ecuador’s coast, leaving Santa Rosa crews with smaller catches and some boats idle. Water Management: Ecuador has completed its delegations for binational water committees covering the Zarumilla and Puyango-Tumbes basins, bringing government, community and Indigenous representatives into shared watershed planning. Energy: New tax exemptions aim to spur private investment in power generation and storage, while recent rains have lifted output at Coca Codo hydro and raised the Mazar reservoir. Trade and Resources: Ecuador is discussing crude oil, copper and critical-mineral sales with India, which is also being invited to invest in the country’s energy and mining sectors. Agriculture: Flooding in Esmeraldas has damaged farms, homes and livestock, with thousands affected as El Niño risks mount. Organic banana supply remains steady, but higher ocean freight is adding costs for Ecuadorian exporters. Seafood Trade: Shrimp processor Omarsa has acquired Nueva Pescanova’s French chilled-products business, while a proposed U.S. tariff increase threatens Ecuador’s shrimp exports.

Ecuador–India Trade Talks: Ecuador is in talks with India to sell Ecuadorian crude oil, copper and other critical minerals, while also exploring Indian purchases of medical products from HLL Lifecare. Agri Supply & Logistics: Organic banana supply stays steady into Q4 as Mexico rainfall helps growers, but Ecuador faces higher sea freight costs and longer planning needs. Security & Human Impact: Ecuador recorded a record 430 homicides of children and adolescents in Jan–Aug 2026, with Guayas driving nearly half the total. Energy & Infrastructure: NB Power’s 20-year plan argues nuclear is the best low-carbon replacement as coal phases out, aiming to protect rate-payers. Mining & Environment Advocacy: A Canadian investor-protection teach-in highlights how Investor-State Dispute Settlement can limit climate and Indigenous sovereignty, with Ecuador’s water cabildo among speakers. Shrimp Industry Pressure: A U.S. senator proposes phased tariff hikes on Ecuadorian shrimp, targeting up to 40% by 2029. Aquaculture Deal: Ecuadorian shrimp-farming firm Omarsa buys Nueva Pescanova’s French refrigerated products division, aiming to expand in Europe. Climate Risk for Ecuador: Fires in Azuay have burned over 1,700 hectares this year as dry vegetation and wind keep risk high.

Ecuador-India Energy Talks: Ecuador’s ambassador Buchelli said Quito is in talks with India for the sale of crude oil and critical minerals, including copper—another push to monetize resources and deepen trade ties. Shrimp Trade Pressure: U.S. Senator Cindy Hyde-Smith introduced the Ecuador Shrimp Tariff Act, proposing phased duties up to 40% by 2029, plus a per-kilo fee for inspections—aimed at protecting Gulf shrimpers. Aquaculture & Supply Chains: Chinese feed giant Haid is expanding fast, including facilities in Ecuador, as global aquafeed demand grows and competition intensifies. M&A in Seafood: Ecuadorian shrimp-farming firm Omarsa bought Nueva Pescanova’s French refrigerated products division, signaling continued consolidation in chilled seafood. Power & Hydropower: Weekend rains boosted generation at Coca Codo and raised Azuay’s Mazar reservoir, easing Ecuador’s energy deficit and reducing the need for some restrictions. Local Health Costs: Cuenca dialysis patients demanded payment for private providers owed over $4M, warning treatment continuity is at risk. Azuay Wildfires: Fires have burned 1,700+ hectares across Azuay, with dry vegetation and wind keeping risk high. Cocoa Volatility: Cocoa prices remain volatile as climate change threatens yields, raising costs for chocolate manufacturers and complicating planning. Construction Labor Policy: Israel will stop private recruitment of Sri Lankan and Indian workers for construction from Jan. 1, 2027, while listing approved countries that include Ecuador.

Energy & Hydropower: Weekend rains boosted generation at Ecuador’s Coca Codo Sinclair and raised the Mazar reservoir by over a meter, helping authorities idle plants and resume output Monday amid a still-tight national power balance. Health & Public Services: In Cuenca, kidney dialysis patients and private providers protested unpaid state reimbursements, warning that delayed payments could disrupt lifesaving treatment. Agriculture & Risk Management: Azuay’s wildfire toll topped 1,700 hectares, with Cuenca hardest hit, as dry vegetation and wind keep agricultural burns dangerous even when rain appears. Trade & Industry: A U.S. senator introduced a bill to raise tariffs on Ecuadorian shrimp imports, arguing subsidized shipments are pressuring Gulf shrimpers and processors. Aquaculture Supply Chain: Ecuador’s Omarsa bought Nueva Pescanova’s French refrigerated seafood division, signaling continued consolidation in chilled shrimp markets. Global Business Signals: Gran Tierra announced Azerbaijan ratified its onshore exploration deal, while Chinese feed giant Haid keeps expanding internationally, including into Ecuador.

Shrimp Trade Clash: U.S. Senator Cindy Hyde-Smith introduced the “Ecuador Shrimp Tariff Act,” aiming to curb Ecuador’s growing share of U.S. shrimp imports and protect Gulf producers, with phased duties that could reach 40% by Jan. 1, 2029. Mining & Rights in Ecuador: A new documentary, “When Waterfalls Die,” spotlights the Shuar Arutam fight against open-pit copper mining in Ecuador’s Amazon, raising fresh questions about the country’s rights-of-nature framework. Oil Investment Signal: Ecuador announced a new oil auction for end of 2026, as the country courts investors while Indigenous groups warn Amazon expansion isn’t viable. Energy Reliability: Power disconnections were extended to 72 hours for large companies as hydro plant water levels drop, underscoring ongoing pressure on Ecuador’s industrial operations. Logistics & Connectivity: Quito expands North American connectivity with new Air Canada direct flights, a boost for travel and business links. Culture & Local Industry: Ecuadorian chocolatier Inkakaw is gaining traction abroad, showing how Ecuador’s food brands keep finding new markets.

Energy Crunch: Ecuador extended power disconnections again—now up to 72 hours—for large companies as low water at Mazar and Coca Codo Sinclair squeezes generation, with 9,089 medium firms also facing 48-hour cuts next week. Oil & Mining Tensions: Ecuador announced a December 2026 tender for remote Amazon oil blocks, despite Indigenous nations rejecting the planned Ronda Suroriente and Ronda Subandina over legal, environmental, and operational risks. Trade & Industry Pressure: A U.S. bill would raise tariffs on Ecuador shrimp to protect wild-caught Gulf producers as Ecuador remains a major supplier to the U.S. market. Logistics & Safety: Ecuadorian TV reporter and cameraman were struck by a pickup truck while covering a landslide in Monterrey, Mexico, escaping with minor injuries. Climate Risk: A report warns El Niño could add thousands of heat deaths across Brazil, Colombia, and Venezuela, with survival tied to housing and cooling affordability. Food & Culture: Ecuadorian cacao continues to travel—from a Minnesota chocolatier importing Hacienda San Jose products to new research tracing cacao’s ancient spread.

Oil & Gas: Ecuador says it will tender remote Amazon oil blocks in December 2026, aiming for about $1B in investment, even as seven Indigenous nations reject the plan and warn of legal, operational, and environmental risks. Electricity Crunch: Ecuador extended industrial power disconnections again—up to 72 hours for large companies and 48 hours for thousands of medium firms—citing low water at Mazar and Coca Codo Sinclair. Mining & Amazon Rights: A new documentary, “When Waterfalls Die,” spotlights the Shuar Arutam fight against open-pit copper mining tied to a Canadian company’s extraction rights in Ecuador’s Amazon. Trade & Tariffs: A US bill targets Ecuadorian shrimp imports, arguing Ecuador’s supply is pressuring Gulf producers and calling for higher phased tariffs plus stronger labeling and inspection funding. Aviation/Logistics: Uruguay ranked high for international passengers per inhabitant, with Carrasco’s airport logistics hub highlighted for pharma connectivity across the region. Maritime/Crime Compliance: A regional push to shift anti-crime policy toward tracing assets and dismantling financial networks is gaining momentum, with Ecuador–Colombia–Peru cash-control operations cited. Business/Infrastructure: Quito expands North American connectivity with new Direct Air Canada flights. Safety & Media: An Ecuadorian TV reporter and cameraman were hit by a vehicle while covering a landslide in Mexico, escaping with minor injuries.

Amazon Mining Fight: Ecuador-linked documentary “When Waterfalls Die” spotlights the Shuar Arutam community’s pushback against open-pit copper mining plans in the Ecuadorian Amazon, framing it as a clash with rights of nature and Indigenous territory. Energy Crunch: Ecuador extended electricity disconnections again—up to 72 hours for large companies and 48 hours for thousands of medium firms—citing low water at Mazar and Coca Codo Sinclair, while business groups question who bears the burden. Oil & Gas Tender: Ecuador announced a December 2026 tender for remote Amazon oil blocks, despite Indigenous nations rejecting the proposed rounds and warning of legal, environmental, and financial risks. Trade & Tariffs: U.S. Senator Cindy Hyde-Smith introduced the “Ecuador Shrimp Tariff Act” to protect wild-caught Gulf shrimpers from Ecuador’s growing seafood imports. Governance & Diplomacy: Ecuador reaffirmed support at the UN for Morocco’s Western Sahara autonomy plan, calling it the only credible path forward. Safety on the Job: An Ecuadorian TV reporter and cameraman were hit by a vehicle while covering a landslide in Monterrey, Mexico, escaping with minor injuries.

Energy Crisis: Ecuador extended power disconnections again, pushing large companies to 72 hours after low water at Mazar and Coca Codo Sinclair, with 9,089 medium firms facing 48-hour cuts next week—sparking complaints from industry leaders about fairness. Oil & Indigenous Rights: Ecuador announced a December 2026 tender for remote Amazon oil blocks, but seven Indigenous nations rejected the plan, warning of legal, operational, and environmental risks and uncertainty over whether the rounds will proceed. Trade & Agriculture: A new U.S. bill, the Ecuador Shrimp Tariff Act, targets rising Ecuador shrimp imports that lawmakers say are harming American wild-caught shrimpers, proposing phased tariff increases and stronger origin labeling. Logistics & Connectivity: Quito is set to expand North American connectivity with new direct Air Canada flights. Industry & Finance: A regional push against organized crime finances highlights Guatemala’s new anti-money-laundering law, shifting focus from kingpin arrests to tracing assets—an approach linked to Ecuador–Colombia–Peru cash-control efforts. Safety in Media: Ecuadorian TV reporter Alma de la Rosa Flores and cameraman Cristo Morales were hit by a pickup truck while covering a landslide in Monterrey, Mexico, ending a live broadcast but leaving them with minor injuries.