Petroecuador, the state-owned oil company, confirmed its intention to adhere to the results of a recent national referendum, where a significant majority voted against the continued oil extraction in Block 43-ITT, a key oil field located in the Yasuní National Park, the heart of Ecuador’s Amazon.
The company, which has been operating in Block 43-ITT since 2016, expressed that they would wait for the official declaration from the National Electoral Council (CNE) and fully respect the public’s choice, emphasizing their commitment to the democratic process.
Preliminary results, with 93.41% of votes counted, indicated that 58.98% favored halting the oil extraction, whereas 41.02% opposed it.
This marks a global milestone as it’s the first instance where citizens have determined the fate of an ongoing oil operation through a vote.