Ecuador President’s Oil-Revival Plan Crumbles as Election Looms

Ecuador President Daniel Noboa’s plan to revitalize the nation’s biggest oil field is crumbling as he scrambles to secure re-election weeks before a runoff vote.

Since striking a deal last year to hand Ecuador’s Sacha field to Sinopetrol, an obscure consortium of foreign oil companies, Noboa has faced mounting criticism over his handling of the deal. His finance minister, Juan Carlos Vega, resigned over it, according to people familiar with the matter who asked not to be named discussing private matters. And his rival for the presidency, socialist candidate Luisa Gonzalez, has said she would revoke the arrangement if elected in the April 13 runoff.